Greater Toronto condo owners shifting to renovations as market downturn continues

AI Briefing

• – Renovation costs are becoming a burden for condo owners, who are having to spend more on renovations to keep up with their mortgage payments.
• – Many owners are opting to spend their savings on renovations rather than trying to sell their units, as the market continues to decline.
• – The trend is creating a financial strain for some, with some owners having to choose between paying for renovations or risking foreclosure.