Business Insider Brent Foster/National PostVancouver’s home prices are down 12% from year-ago peak levels but still average $733,000. Toronto’s average is about $517,000. “Not sustainable, my friends,” writes Rosenberg. As the U.S. begins to recover from its housing bubble, concerns have been escalating about a housing bubble in Canada. “Canada is carving out a top, while […]
Vancouver Housing Bubble: Robert Shiller, U.S. House Price Guru, Says He’s ‘Not Investing In Vancouver Real Estate’
Vancouver’s housing bubble is more extreme today than California’s was a few years ago, says one of the U.S.’s most renowned housing market analysts. Robert Shiller, co-creator of the Case-Shiller Index, which measures U.S. house prices, told BNN late last week that “Vancouver looks like part of California” when it comes to its housing market. […]
Canadian Real Estate And Household Debt
seekingalpha.com For the past three years the Canadian Finance Minister, Jim Flaherty, and the Governor of the Bank of Canada, Mark Carney, have preached caution to Canadian households on the risks of excessive debt accumulation. Neither have gone so far as to declare an asset valuation “bubble” within the Canadian real estate market. However, both […]
Canadian housing looks to be in soft landing, but actually heading for 25% crash: Capital Economics
John Shmuel business.financialpost.com A day after RBC put out a report saying that Toronto’s condo market is not in a bubble, Capital Economics has come out with its own report saying that Canadian housing, including Toronto, is most certainly in a bubble. David Madani, economist with Capital Economics, said on Wednesday that Canada’s housing market […]
Canadian Real Estate Bubble: S&P Cuts Outlook On 7 Banks On High Home Prices, Consumer Debt
Standard & Poor’s Ratings Services has revised its outlook from stable to negative on seven Canadian banks over concerns about unsustainably high home prices and consumer debt levels. The New York debt-rating firm revised its outlook downward on Royal Bank of Canada (TSX:RY), Toronto-Dominion Bank (TSX:TD), Bank of Nova Scotia (TSX:BNS), National Bank of Canada […]
Canada plans no new steps to cool housing market
Edwin Chan ca.reuters.com Finance Minister: Image Source Canada does not expect to have to tighten mortgage rules further as the real estate market has softened in the wake of government measures to cool it down, Finance Minister Jim Flaherty said in an interview on Wednesday. Home prices hit a third straight record high in June, […]