Will the HST affect the Toronto housing market?

Probably it will, but the market will get over it very rapidly. I suspect the impact will be more through alarmist anticipation.

Compromises will be made, and the HST concept tax will be imposed. Frankly, despite the rhetoric, we all know that this will eventually happen.

Shortly thereafter, another “earth-shattering” event will come along to catch the attention of economists, experts, media, politicians, and spokespeople for the industry associations.

Toronto’s extra land transfer tax does not seem to have irreparably extinguished housing demand.

On a day-to-day basis, individual businesses, professionals, and yes, consumers, will adjust and cope.

Given the Canadian climate, people will generally continue to want to live indoors, and given the things happening in other parts of this planet, Toronto is comparatively a very desirable place to live.

Toronto housing standards are amongst the best in the world, and the Toronto housing/real estate industries are probably the best in the world.

Life will carry on.

Even economists have to live somewhere.