Real Estate Prices Nuts!

Sold in April and refurbished this summer, Toronto’s smallest house is on the market again!

Built in 1912 and occupied for twenty years by Toronto contractor Arthur Weedan and his wife, the baby bungalow was originally intended to be a driveway.

Located at St. Clair and Dufferin, this little piece of prime real estate sold earlier this spring for a whopping $139,000. Given its spatial challenges—and its price tag—the 300-square foot house is a microcosmic representation of the Toronto real estate market.

Over the summer, the house got a fetching facelift—a new kitchen and appliances, stone entrance, Murphy bed, and two satellite dishes—and is now back on the market for $179,900.

Toronto has the same problem most other major world cities have and that is absolutely crazy real estate prices during the last ten years. Don't think these prices are sustainable, they will crash sooner rather than later.

Here in London Ontario, just 200 km away you could buy a house like that for $132.00!!

(That's one hundred and thirty two........ period. That is if you could find something that small here, which you can't!!)

Allan W Janssen is the author of The Plain Truth About God at http://www.god-101.com/ and the blog "Perspective" at http://god-101.blogspot.com/