Real Estate Week in 60 Seconds-June 17th

Welcome to the Real Estate Week For June 17th. I'm Jamie Johnston, Broker/Owner of RE/MAX Condos Plus. While everyone has been talking about the sales numbers in May, the rental market is even hotter. Rental numbers are twice the condo sales numbers in downtown Toronto and this past week we have experienced several multiple offer situations in our office. On one, we had the listing and three other agents in our office, each represented a potential tenant. To top it all off the tenant who came out on top was from another brokerage. May to September represents the peak rental period of the year, so expect even more multiple offers as we approach the September peak. Last week I wrote a blog post on buying versus renting, so check it out. In terms of straight economics it is better to buy than to rent if you plan to live in Toronto for several years. Simple fact, everyone needs a roof over their head, either you own it or someone else will. Landlords aren’t stupid, and in fact, Landlords are not poor. Enough said, Talk to you next week, I’m Jamie Johnston

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