While the effects of the economic crisis are still evident throughout much of the US, property prices in most Canadian cities are soaring. The high costs are driven by a perfect mix of record low interest rates, lack of inventory and a stable economy. Home prices in Toronto have increased by about 85% over the past decade. The market took a short, moderate dip in 2008, but has marched steadily northward since then. The city is also home to more high-rise building projects than any other city in North America. But is buying real estate in Toronto a sound investment or a bubble about to burst? Jason Margolis of PRI's The World talked to prospective home buyers wary of the rising prices, and economists with different views of how long the market will continue to rise. You can also listen to Jason's radio piece and find out more about how house prices compare in cities across North America.
Source: BBC
