29 May 2013

Many seek affordable storage in Toronto to brace for real estate market slump

According to Bloomberg, David Madani, economist at Capital Economics in Toronto, is not making any sweeping predictions about the future of the real estate market just yet, as the downturn has "just begun."

Jim Flaherty, finance minister, has historically restricted lending standards for mortgages over worries the real estate market in Toronto and Vancouver were being overextended. Already, the debt-to-disposable-income ratio has broken previous records, reaching a ratio of 165 percent. As a result, many economists in Canada think cooling in construction starts is a good thing, as reported by Bloomberg.

The Canadian Mortgage & Housing Corporation recently released data revealing a decline in housing starts in April – the first time a decline has occurred in the first quarter. As supply tightens and demand remains elastic, many potential buyers could confront delayed closings. For many, self storage is a viable option.

Jiffy Self Storage, a leader in Toronto storage solutions, is currently running a contest on their website for a free iPad 3. Visitors to the site simply need to match a few Canadian landmarks and they'll be entered to win the iPad or one of several other prizes.

Be Sociable, Share!

Related Articles [3]

4 Tips For Fireproof Document Storage

March 3rd, 2017
We all have valuables that we would be devastated to lose in a fire. Some of them are keepsakes, some of them are worth a lot of money and some of them are important legal...

Why It's Important To Get Your Winter Tires

December 20th, 2016
As soon as temperatures drop below seven degrees Celsius, it's time to swap out your all-weather, or your summer, or whatever tires you have on your car and opt for winter...

2 Tips For Choosing The Right Packing Supplies

February 12th, 2016
Having a pre-prepared list of all of the packing supplies you will need to move your belongings into a storage unit or a new home will make the move much less stressful. For...

Leave a Comment






Essential SSL