Toronto Kick

Michael Mallinson, a 77-year-old retired banker, awoke from a nap in his Toronto home around 6 p.m. Wednesday. He had not been following the news. He had never heard of an American right-wing activist named Charlie Kirk.

It was then that Mallinson received a panicked call from his daughter. He had been accused, his daughter told him, of assassinating Kirk at an outdoor debate on the Utah Valley University campus in Orem, Utah. His daughter had already received hate messages on Facebook. She told Mallinson to delete his accounts.

The days of Toronto serving as one of the hottest cities in the world for real estate have come and gone, as the region continues to struggle with an abundance of condos, townhomes and houses that no one seems interested in purchasing.

In total, 79 per cent of homes sold over the course of August were given up for less than their list price — a number that is also on the rise, compared to 76 per cent the month prior and 71 per cent this time last year.

According to the latest figures, sales activity for new homes in particular — condos, townhomes, semi-detached and detached houses inclusive — has fallen so low that we're now putting the 1990s housing crash to shame.

Even if you're not at all involved, or even interested in Toronto real estate, the sales trends of the last while have been absolutely fascinating, with owners,
investors, developers, and realtors left stranded at sea as the market is flipped on its head.