Nearly 40% of Toronto homes not owner-occupied, new figures reveal

Statistics Canada data suggests investors drive housing market and prompts fears that Vancouver-style affordability crisis could be spreading More than a third of Torontos condominiums are owned by people who dont live in them, according to new government figures which suggest that more cities across Canada could be facing a growing struggle with Statistics Canada show that 39.7% of Toronto condos are not owner-occupied, meaning they are either vacant, rented or used as a second property. The new statistics offer further evidence that people now view housing as an investment, and not necessarily as a place to live, said Andy Yan, the director of 12% of families can afford to own a home, and where nearly half of condos are …