Trends in Real Estate

We happen to notice changes in trends in almost every aspect of our lives ranging from clothes, hair, and interior designing and so on. Mullets, a hairstyle that was popular in the 80-90s was then rejected during the 2000s and is now becoming popular once again. However, one trend that has experienced a drastic shift in trends in real estate, more specifically housing.

A house in the suburbs was considered to be the absolute and ideal goal that everyone was striving for throughout the 20th century, however, after the 2008 housing crisis, a huge chunk of people stopped buying houses, and for good reason. Everyone became afraid of the idea of getting a house and then potentially losing it the next time the real estate market might experience a possible downfall.

Apart from the marketing crash, people now find the idea of spending hours commuting to and from the city in order to get to their work unnecessary, and the fact that people now have smaller families also reduces the need of having a house in the suburbs. This is why people sort of stopped buying houses and started looking into other options.

A lot of people choose to stay in apartments, however, for people who are still looking for the convenience of an apartment but want to invest in permanent property ownership are now buying condos instead. A condo is a sort of perfect marriage between a house and a condo, and they are selling like hot cakes. There has been a substantial rise in the number of condominium projects being launched annually to meet their growing demand, and the Plaza bijou on bloor condos is an example of just one of the many condominium projects that have been launched recently over the past few years.

Spread the love