Planning_Building

The soaring price of real estate across Canada has led to a frenzy of reconstruction in many cities, reports Maclean’s senior writer Chris Sorensen.

Since the average price for detached homes in both Toronto and Vancouver now tops $1 million, he finds, real estate owners and developers seem to be looking for ways to “capitalize on Canadians’ insatiable demand for homes.”

Read more on the number of homes being torn down, and on what’s driving housing markets.

Also check out:

Home prices will continue to rise in 2016

Are families being pushed out of Vancouver?

More Canadian snowbirds migrating home

Canadians expect to pay $60,000 in mortgage interest

Originally published on Advisor.ca

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