It has not slowed down at all, the real estate crash didn’t happen as prices in the GTA have just increased unabated. Prices have been increasing steadily for the last 15 years in most of Canada.
The boom and bust cycles of previous years have disappeared.
A mortgage lender said it succinctly a couple of years ago ” the GTA does not have earthquakes, tornadoes, hurricanes, is relatively safe , modern and clean. Where else could you buy any Real Estate and have this piece of mind” The U.S. Real estate market on the other hand is volatile and subject to rapidly changing demographics that affect neighbourhoods and real estate values. By comparison the changes in Canada and the GTA are relatively slow and manageable. Yes,there have some real estate value reduction in Canada’s Western Provinces and to a smaller extent in the Maritimes, but they have been manageable.
Europe, Southern Asia , Africa, Indonesia and the Middle East on the other hand are going through fundamental changes in their societies and as a result you have a Refugee Crisis, instability., radical groups And Economic hardship. Canada is a safe haven for Capital Investment.
The recent precipitous drop in the price of Oil has devalued the Canadian Dollar , reduced the price of gold and greatly increased the cost of Imports, which Canadians depend on. The advent of an ever increasing foreign buyers, speculators and first home buyers has heated up the market to the point that it has attracted inexperience Real Estate Developers and investors in the fragmented mortgage backed investments. Shades of the Mortgage backed securities that almost Bankrupted The USA in 2008.
Two recent events, a project in Barrie is in Bankruptcy Protection as is a very large GTA condominium builder/developer.
These are dark clouds in the horizon .
Shades of things to come ?