How speculators inflated the Toronto housing bubble

There are many culprits behind last year’s unsustainable rise in Toronto house prices, with experts blaming everything from foreign buyers to lack of supply. But a new report singles out another major factor: speculative investment.

Toronto brokerage Realosophy Realty Inc. found 16.5 per cent of low-rise houses in the Greater Toronto Area were purchased by investors during the first quarter of 2017, the peak of the bubble. In 2012, investors accounted for only 4.8 per cent of low-rise...

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