Does Toronto truly have a vacant-condo problem? Expert weighs in.

Original article via BuzzBuzzHome. Click here to read.

The head economist of RBC’s asset management division is shedding light on Toronto’s unoccupied condo units as the city mulls a vacant-home tax like Vancouver’s amid support from activists.

“Given anecdotes about speculators, foreign buyers and the fraction of condos perpetually dark even as day turns to dusk, one worries about this segment of the market in the event of a serious correction,” Eric Lascelles, chief economist at RBC Global Asset Management, writes in his latest weekly #MacroMemo.

“Fortunately, the actual statistics bely this fear,” he adds.

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