Canadians Camp Out For Condos, Again
What is going on in Canada, the condo market is sizzling hot! Here in the States we are watching condo projects hit the auction block because they won't sell. In Canada they are lining up in the cold to get their paws on fresh new condo projects. We saw it in Vancouver and now we are seeing it in Toronto at 1 Bloor St. East, a $450 million 80-story slice of a skyscraper we first talked about in April. Back then various analysts were expressing fears that the condos might be too ritzy for Toronto. It doesn't seem like that will be a problem as people are camping out for a whole week just to get their first pick of the condos. Real estate agents have recruited hardy souls to hold their places in line because each person is able to secure three condos. The luxury suites start at $300,000 and run up to $18 million for the penthouse suite.