If you believe house prices are crazy now, you
should see the predicted prices 10 years from now. The article “Canada’s House
Prices Will Look Like This In 10 Years, If Trends Keep Up” was featured on
Business Canada and sparked a lot of attention. It tackled current trends and
gave a scary prediction of the prices of houses in Canada in the next 10 years.
For major cities such as Toronto the price of a single-family home will range
from 2.26 to 3.582 million, and in Vancouver it will range from 2.8 to 5.1
million. Not only will buying a house be a hard task but also upgrading from a
condo to a house will be strenuous. Statistics show that the average cost
of upgrading from a condo to a house in Toronto is $758,000. However, in 10
years time the gap will be much wider ranging from 1.682 to 2.954 million. With
the real-estate market becoming more aggressive each year it is important to
take into consideration the benefits of acting now.
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