Toronto real estate will get a lot more expensive in 2017, according to the Toronto Real Estate Board, which is forecasting the average price of a home to climb over $800,000 this year. The board is predicting another year of double digit growth in Toronto real estate prices, with the average selling price rising between 10 and 16 per cent. Foreign buyer tax would be 'misguided'TREB's report acknowledges the rapid growth in Toronto real estate is putting home ownership out of reach for many residents. But the board says a tax on foreign buyers would "misguided" as a potential solution. A total of 40 per cent of foreign buyers purchased a home as their primary residence, the report says.

Source: CBC News January 31, 2017 15:00 UTC