Condos in Toronto Available for Under $400K What Are the Potential Drawbacks?

For the first time in years, bachelor and one-bedroom condos in Toronto are selling for under $400,000, leading many renters to consider homeownership. However, experts warn that rapid inventory depletion could trigger a future housing shortage. TRREB reports a 5.1% year-over-year drop in average condo prices, with some neighborhoods listing as low as $384,333. While lower prices benefit buyers, they pose challenges for recent non-investor homeowners facing potential losses.