THE DAVISVILLE & LEASIDE INSIDER

THE DAVISVILLE & LEASIDE INSIDER

Thursday, June 10, 2010

G20 bank closings 'brutal' for real estate industry!

Forget about the fake lake. What if you can’t close on the sale of your property because your bank was shut down for the G20 Toronto summit?

While media attention might be on the uproar over the $1.9 million man-made lake and pavilion being built for the media at the meeting of world leaders, real estate and legal professionals are worried over a potential “disaster” in the making.

The last Friday in June is traditionally the busiest for house closings from buyers who have purchased in the spring market that saw record sales this year. If downtown banks close during that week thousands of closings could be affected creating major market turmoil, say industry professionals.

Source: June 9, 2010
Tony Wong, Business Reporter


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