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

Dress up 50s/60s rock style for Rock ‘N Rimbey

Decoration, dress-up contest runs all week in Rimbey

Rimbey area producers should keep cattle comfortable this summer

Options for cattle producers dealing with hot, windy conditions to pests

Video games don’t cause mass shootings

No link ever found between violence and video games

Rimbey musician to play at Vault for Rock ‘n Rimbey

Tyson Prior excited he will be doing what he loves best at Rock’n Rimbey

Fashion Fridays: How to dress and feel powerful

Kim XO, helps to keep you looking good on Fashion Fridays on the Black Press Media Network

Canadians killed in Afghanistan honoured during emotional dedication ceremony

One-hundred-fifty-eight Canadian soldiers died during the mission

Discussion on grief and loss between Stephen Colbert, Anderson Cooper goes viral

The exchange includes emotional question from Cooper, and outlook on grief as a child

Toronto activist calling on federal parties to nominate more black candidates

Fewer than 20 black Canadians have been nominated so far, including some Liberal MPs seeking re-election

First Nations women finally to be treated equally under Indian Act: Bennett

Canadian Feminist Alliance for International Action thanked the feds

‘Easy Rider’ star Peter Fonda dies at 79

Actor and writer was nominated for an Oscar for co-writing the 1969 psychedelic road trip movie

What could be next? Five questions in the SNC-Lavalin saga

Will police lay charges? Will report resonate with voters? Will Jody Wilson-Raybould get re-elected?

Alberta government strikes panel to advise on wage cut for alcohol servers

Panel is tasked with consolidating existing studies on the effects of a minimum-wage increase

‘Tips on steroids:’ Social media both a help, hurdle for Canadian police investigations

More than 1,000 tips were received by police in the hunt for fugitives Kam McLeod, Bryer Schmegelsky

Most Read