Let's say the purpose of buying the property (house/condo) is for total return. Is it a good move to buy now? I hereby offer two opposite views:
1) It's good. Thousands of immigrants are coming from China, India, etc each year and Toronto is the top choice for most profetionals due to its employment opportunities. They all need to live in somewhere. The rent and realestate price will be pushed higher and higher.
2) It's bad. Yes, thousands newcomers each year but people will not and can not stay for long if the country offers no jobs. Unfortunately this is exactly what is happening right now. Most people don't have jobs. Certaintly some will leave. For those who stay, many of them will move to the US as soon as they can, if things continue this way. That's why the boom of the realastate market is a short-lived one. It's not real.