Toronto home development companies that used to buy small bungalows to tear down and replace with luxury custom built homes are now sitting on the sidelines.

Both the global financial meltdown and the stock market problems and even the falling Toronto Real Estate Market has changed the current housing market.

Luxury renovations continue in the Yorkville, Bridle Path and Rosedale areas however new modern luxury in fill homes will be hard to find once the Toronto Real Estate Market starts to turn around.

Luxury Toronto home builders will have to wait to start new projects  and wait for the tear down market to be in demand, once again.