Unsold condos pile up in Toronto, hit 21-year high

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This article is called Unsold condos pile up in Toronto, hit 21 year high. It was posted by Jamie Sturgeon and appeared on the Global News website. It was published on February 24, 2015. This article discusses about the number of unsold condos in Toronto hitting a 21 year high last month. There were 10,368 condos completed by builders last month according to Bank of Montreal’s economist Sal Guatieri. This is eight times more than average for the past decade. Condo builders were warned by the Canada’s Mortgage and Housing Corporation chief economist to sell more existing units before planning new ones.

Reference:

Sturgeon, J. (2015). Unsold condos pile up in Toronto, hit 21 year high. Retrieved from Global News: http://globalnews.ca/news/1846998/unsold-condos-pile-up-in-toronto-hit-21-year-high/

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