Canada’s housing market ‘vulnerable’ even as Toronto cools: CMHC

Organization says it’s the tenth straight quarter with this assessment

Canada Mortgage and Housing Corporation says the country’s overall real estate market remains “vulnerable” despite an easing in overvaluation in cities like Toronto and Victoria in the third quarter.

The federal agency says this is the tenth quarter in a row where it has given the overall Canadian housing market a “vulnerable” assessment.

CMHC’s finding is based on a number of factors including the level of imbalances in the housing market related to overbuilding, overvaluation, overheating and price acceleration when compared with historical averages.

It says it has changed Toronto and Victoria’s overvaluation rating from high to moderate when it measured it against factors such as population growth, personal disposable income and interest rates.

The degree of overall vulnerability remains high in Hamilton, Ont., and Vancouver, where the housing market has cooled in recent quarters but property prices remain high compared to these economic fundamentals.

The Canadian Press

Like us on Facebook and follow us on Twitter

Just Posted

Blades cut through Kootenay Ice 8-3

The Ice couldn’t come back against the Saskatoon Blades after an early three-goal deficit

Gord McArthur back in action from retirement

After eight years McArthur slew his kryptonite at the World Cup Ice Climbing tour in Switzerland

RDEK takes steps towards reducing carcass pit use

The first step towards addressing the issue of carcass pits in the… Continue reading

Celtic tradition is Heather Rankin’s musical starting point

Cape Breton singer’s Key City Theatre stop her first show of 2019, first solo show in B.C.

Soccer registration in full swing for 2019

KEYSA has started their soccer registration for the REP/development and house streams

B.C. students win Great Waters Challenge video contest

Video, mural and song about saving the salmon claims the top prize

Woensdregt: ‘Imprinting the Day’

Rev. Yme Woensdregt Many of us, even faithful believers, feel like we… Continue reading

Ammonia leak shuts down curling club in Nelson

It’s not yet clear when the leak was detected

Pavelski’s 31st goal helps Sharks top Canucks 3-2

Vancouver one point out of second NHL wild-card spot

Columbia Valley RCMP searching for misisng person

Police ask for help in finding Elizabeth Stewart, who hasn’t contacted family since Jan. 14

East Kootenay illicit drug overdose deaths lowest in B.C.

Local expert credits harm reduction efforts; declares support for legalization of opioids

Eight cases of measles confirmed in Vancouver outbreak

Coastal Health official say the cases stem from the French-language Ecole Jules Verne Secondary

Ontario police field complaints over Amber Alert for missing girl, 11, found dead

Some said the Amber Alert issued late Thursday for Riya Rajkumar disrupted their sleep

Former B.C. premier Gordon Campbell accused of sexual touching

Accuser went to police, interviewed by Britian’s Daily Telegraph

Most Read