What the Real Estate Market Will Look Like 10 Years From Now, If Trends Keep Up.

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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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