More than a few locals will tell you Toronto is a city that simply appeared. Signs of construction are rampant. Cranes and workers assemble the ever climbing landscape. Downtown property sprouts like hyperactive redwoods.
This photo is taken from the west looking towards the financial district. Central, you can see the CN tower, the largest freestanding structure in the world. The new assemblies in the foreground will become high rise condos. What you cannot see is under the bridge this photo was shot from. Still more foundations exist there signalling new heights to come.
Bitten by the housing crash in the US, the fast, abundant growth is concerning. Rents have remained stagnant for two years. Disposable income has not kept pace with housing costs. Canadians have edged out Americans in the dubious game of who can have the greatest household debt.
However, there are large counterbalancing positives, too. Immigration is steady and significant. Lending restrictions are tight. Foreign investment is strong.
So here is to hoping any concern is the unwarranted wavering of a worrywart.
But, it does not feel to bad to be renting at the moment, either.
