The CBC’s The Condo Game
The Condo Game examines the forces at play behind the fastest moving condo market in North America – Toronto – and discovers that the glittering glass hides a sea of troubles. The first startling revelation for many people will be how very much the condo market is focused on investor profit, not affordable housing. One expert even says that it’s really not a housing market but a commodities play. And that means that average Canadians, looking for a primary residence, are inadvertently joining a game for which they don’t have the rule book.
The number of condo towers in Toronto has doubled in the last decade – to 1300.
Although the documentary focuses primarily on Toronto, as it unfolds warning bells will be ringing loud and clear for cities and condo-owners across Canada. With its population exploding, Toronto placed a big bet on condo towers. Their number has doubled in the last decade. But in the summer of 2011, when faulty panes of glass repeatedly fell from brand new condos onto busy city streets, people began questioning whether this was a safe bet – for individual homeowners and for the city.
Read the full post on CBC Television’s The Doc Zone.