Toronto Housing Bubble

I see @jsnip4 hasn't posted this yet on Steemit. I hope it's alright for me to share it here.

Housing prices are insane there and I want to share this with my Toronto friends. Mind you, if prices drop they are still insane, imho.

The first house I bought in Toronto I bought for $46,000 in the early 80's. Did some nice renos and sold for <70K just two years later. I was kicking myself when 18 months later it sold for $125,000. In 2009 I heard the house was worth >$400,000. I couldn't believe my ears. I also found out it had been split into 2 flats. That blew me away as it was a pretty small house, narrow and long. The walk-in closet we put in off the master bedroom upstairs was now a galley kitchen. The MB was the living room. The ground floor "flat", which was the living room, dining room, kitchen, one after the other in my time (I think the house was about 24' wide) had the bedroom in the basement now. It had heat ducts running across the ceiling which was okay if you were under 5' tall.

Recently that address sold for around $769,000, if I'm not mistaken, and it looks like someone did some nice work on it. Hopefully it's restored to a one-family dwelling. It had a great backyard. Nonetheless this is certainly something for Torontonians and all Canadians to be aware of.

Cheers
Eveline