When it Comes to Real Estate, Toronto is to Canada what New York is to the US

No matter what Mortgage Rules Finance Minister, Jim Flaherty, implements, no matter what predictions the Lenders come up with every week through the Media, no matter what  Land Transfer Tax or crisis is out there, the Real Estate market in Toronto is always hot and the prices keep going up. Specially now, when the World Economy crisis is keeping the interest rates low (European Central Bank just cut even more their overnight rate to 0.2%) and our banking system continues to be the Best in the World.

Economic Prospects, Diversity, Inclusiveness and Entertainment Entice All of us,
And Toronto has it all
Toronto is the most diverse city in north America with very low crime rate, making this jurisdiction very attractive and safe to everyone.

It's the place where immigrants arrive everyday (from outside the Country and other provinces) to live, work and invest, because, independently of our differences, we can all peacefully get along and feel we belong here.

 

Toronto (and its suburbs) is the number one place for business in Canada. Some say it's the economic engine of the Country. It is where so many business opportunities and job openings are available from different industries and services, and from thousands and thousands of small and medium businesses that are created everywhere across the city: Accounting, Real Estate, Law, Doctors' and Dental Offices, Pharmacies, Office Supplies, Building Supplies and Electronic Supplies Stores, Car Garages, Grocery Stores, Restaurants, Bakeries, Bars, Coffee Shops, Construction Companies ( and subcontractors) that employ bricklayers, carpenters, plumbers, electricians and roofers, Cleaning Companies, etc, etc.

Toronto is where the Stock Market (TMX Group) operates from, as well as major Banks (RBC,CIBC, BMO, TD...), major Insurance, Investment Companies and Accounting Firms, major Hospitals, Drug Companies (Pfizer), Universities and Colleges, Real Estate Companies, Builders, major Retailers (Future Shop, Best Buy, Canadian Tire,  Home Depot, Wal-Mart, NoFrills...), other Companies such as Coca-Cola Canada, Dell Canada, TTC, Fairmont Hotels & Resorts, Hilton, Sheraton, Bell Canada, Rogers Communications, MLSE (Toronto Maple Leafs, Toronto Raptors, Toronto F.C.), Car makers (Ford, GM...) and car dealers, etc, etc.

Major Events take place annually in the city, involving thousands of people and generating millions of dollars: TIFF (Toronto International Film Festival), Caribbean Carnival, Canadian International Auto-show, Honda Indy, St. Patrick's Day Parade, Pride Week (Gay Parade), Luminato, Downtown Jazz Festival, MuchMusic Video Awards,  Santa Clause Parade, The Beaches Jazz Festival, Canadian International Air Show...many street festivals such as Corso Italia on St. Clair West, Taste of the Danfort, Roncesvalles Polish Festival, Word on the Street, Ukrainian Festival...

Everybody wants to see and visit the CN Tower, enjoy and have a memory of Canada's Wonderland and/or Lion Safari, take the Ferry to Toronto Islands, enjoy High Park and many other parks for a picnic, or simply jog or ride the gorgeous bike paths (and parks) along Lake Ontario.
This is the place where every year major music entertainers (Madonna, Justin Timberlake, Drake, Rihanna...) have the pleasure to come to perform for thousands in concerts.

The diversity, diverse economy and the job market provide and create the right mix of opportunities, tastes, flavours and ritms that is welcoming and supportive, and attract young (and not so young), creative and dynamic talent. 

Therefore it's just a matter of time, until all these people decide they'll need to buy some piece of Real Estate to fully become a proud Torontonian.

At some point, we realize that Real Estate value goes up fast, faster than our income, becoming an investment that provides returns above the inflation rate and that later in life can be used as a very profitable tool when we decide to retire.

I think it's very important to keep in mind that we don't know what the economic conditions will be at the time we retire. Our Pension alone might not be enough.