As Toronto loses jobs, its suburbs see an increase in demand for land.
"...the demand is there, especially from two emerging groups of buyers not necessarily looking for a single-family home: young professionals and recent immigrants...Nearly all of the job growth is at the expense of the City of Toronto, which has lost 29,300 jobs since 2000...Not as many are going to Mexico or India as some would like to think. Many end up in places like Markham, with property tax rates of between $3 and $5 a square foot for office space, compared to rates that are 2½ times higher in Toronto."
Thanks to John Koch-Schulte
FULL STORY: Price pressures changing the mix of housing
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