Considering everything we have experienced this year, there are a few bright spots. One is the housing market in Toronto and surrounding areas. We have witnessed daily the pain small and large businesses are experiencing in an economy propped up by the federal government but the strength of the housing market also tells another story of an economy that is still growing and is resilient to an overall wobbling economy. In the last recession the Toronto housing market faired very well compared to other parts of the country and now Toronto is demonstrating that again. There are bright spots for first time home buyers interested in buying a condo. In the 416 condo apartments have declined 3% in price. The other bright spot is for first time condo buyers. The First Time Home Buyer Incentive will be increased for specific markets including Toronto. This incentive may get you in the door to your first home.