3 Canadian Real Estate News Headlines You Shouldn't Miss Today (August 1st 2019)
Hello everyone. How are you?
I provide you with Canada’s news headlines for real estate news for today.
Toronto’s Housing Bubble Predicted To Pop: Report
It’s been over a decade of inflated home prices for Toronto. The phenomenon has locked out millions of would-be homeowners out of the market, most notably the millennial cohort. And now, new data collected by Bloomberg suggests the real estate bubble will burst.
Talk of Housing Bubble in Canada Distorted by Toronto, Vancouver
Toronto and Vancouver real estate markets are still giving Canada’s national housing market a bad rap even with the latter in correction mode.
Heated debate prevails about how policy-makers are cooling down the housing market. Many industry players target the B-20 mortgage stress test as being too harsh and flawed and are proposing alternatives. But policy-makers and Royal Bank senior economist Robert Hogue feel the test is doing its job—gradually letting air out of the bubble instead of making it pop.
Canada is being singled out again—this time by Bloomberg economist Niraj Shah—as being overdue for a correction. It is the only country to appear among the top five in four categories that make up a “housing bubble dashboard” he developed.
Canada Is Set For A Big Drop In Home Prices, According To New Reports
Bloomberg Economics has released data suggesting that the Canada housing bubble will eventually pop, leading to a big drop in home prices. Along with New Zealand, Canada is highly susceptible to a housing price correction in the near, but unknown future. This is due to the high price-income ratio and abnormal price-rent ratios having been a hard reality for some time now.
Jethro Seymour, Top Toronto Real Estate Broker
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