The recent housing market rebound was "a tad overdone" but TD economists say they’re not too worried about the current level of prices.

However, they are concerned about where the current market momentum will send prices in 2010.

In a report released this week, economists say strong demand will continue in 2010, pushing home prices up another 9-10 per cent.

This will result in price growth that is "stronger than fundamentals can support over the long haul."

The real risk to the housing market is not if the market cools more than anticipated but rather if it remains too hot for too long.

"There is more than adequate time for the housing market to cool before then, but history suggests that if it fails to do so, the ensuing adjustment would be a rude awakening." (TD report) 

Condo Crazy in T.O.

According to Jasmine Cracknell, a research assistant with N. Barry Lyon Consultants Ltd., a full 80 per cent of condo buyers are young, first-time owners.

And there will be lots to buy next year, with 20,000 new condo units set to hit the market in Toronto.

And, even though they’re going for $500 per square foot in downtown T.O., that’s relatively affordable… compared to New York’s $2,000 per square foot average. (CBC.ca)

Maple Leaf Gardens Rebirth

Loblaw, Ryerson University and Ottawa are teaming up to give Maple Leaf Gardens a major makeover.

The 78-year-old building is going to be cleaned up and turned into a supermarket and athletic facility for students.

According to the plan, several floors will be added to the structure along with underground parking. (Toronto Star)