Jul 24, 2012
By Michael Kramer
Toronto’s growing forest of high rise condo towers are difficult to miss.
And talk of a price bubble ready to burst is being dismissed by economists at Canada’s largest bank.
Royal Bank of Canada senior economist Robert Hogue says prices will cool by between 2 and 7 per-cent in the next year but will not collapse.
He points to a rising population, a shift in the mix of available housing, rising rental demand, and strong interest in buying condos as investments.