Toronto Star‘s Tony Wong article “” depicting Realtors standing in long lines and quoting from Will Dunning: “Investors are out in force, sowing their own disappointment”.
I emailed Will asking him to explain this statement, but never got a reply. Will’s article is here. Read it and decide for yourself where he is getting this info from.
Sofia Hasan, a Realtor quoted as saying “we are going to take home $20,000 for 24 hours” told me in a telephone call that her words were taken out of context. Sofia explained to me that Phase 1 sold out and equivalent Phase 2 units were approx. $20,000 more expensive, hence, one can assume a real appreciation on their investments.
Real-estate trades as an open market controlled by supply and demand. At a market of high-demand a little good supply, you can expect prices to keep rising.