29 Nov Townhouses remain a big missing piece in Toronto’s affordability puzzle.
Original article via Globe and Mail. Click here to read.
In most of the country, townhouses are an in-between option for home buyers: bigger than the most affordable condo apartments, but smaller and more affordable than the average detached house. When researchers talk about the Greater Toronto Area’s “missing middle,” odds are they are talking about townhouses.
Given that the market still has significant affordability challenges, it may be surprising to learn sales of new townhouses in the Toronto area are now on a two year-slide, in absolute terms and as a share of all new homes.