I do find it interesting that all this new construction is apts and not condos. Is it really that hard to get a mortgage with continued near record low interest rates? I understand about rehabs taking advantage of the 5 yr. tax credits before converting, but new construction? Here in the Toronto area, all highrises are condo. The buyers are either investors who rent them out, empty nesters or young people who borrow some of the down payment from parents. There's also a lot more young families downtown, but then schools are not so much an issue.