Toronto Condo Market in TURMOIL: Distress Sales Skyrocket!

Toronto (or even Canada's) preconstruction market for condos had a strong ride for about 15 years but that is coming to an end. Buying a pre construction condo just to assign it is no longer working. Please be careful if that's the advice you're getting that you'll make couple of hundred thousand on assignments. .Assignments for condos in Toronto are sitting on the market for much longer. Sales activity on Brokerpocket for assignment condos is down 90%. So if you're being sold the dream of making tens of thousands on dollars on a preconstruction condo project please do your due diligence. New taxes for pre construction projects and a very weak market in Toronto and nearby areas makes it unlikely you'll make thousands anytime soon. Toronto precon market is down 90% on Brokerpocket. Brokerpocket is a national platform for off market listings such as assignment listings and exclusive listings. #brokerpocket #ericskicki #offmarketlistings