coronavirus pandemic in the Greater Toronto Area for Wednesday:Jamie Walker first rented the apartment from its previous owner, then bought it and planned, in turn, to rent it to someone else as a way to earn income.Under ordinary circumstances, the investment plan seemed sound.
But now, with nearby office towers nearly empty — downtown workers had fled to suburbs, some moving in with their parents — suddenly rentals were available everywhere.Almost overnight, owning a downtown Toronto condo as an investment plan no longer seemed viable.
Neither did the idea of selling the unit, as a flood of other condo investors in a similar situation had tried. How the pandemic has turned downtown Toronto condos into ‘challenging’ investments [ Sign up.