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

Victoria seniors want to know more about marijuana

Four presentations on the medical properties of cannabis for seniors come to Victoria

Rickter Scale: California Dreaming with Steve Shutt

The Rickter Scale is a weekly column in the Goldstream News Gazette

Victoria gears up to axe free parking on Sundays

Council vote puts Sunday parking fees towards bus passes for youth

Oak Bay one step closer to deer immunocontraceptive test

Up to 80 deer could be given ‘birth control’ vaccine in the fall

Parents still seek clarity for future of Victor School

Motion avoided to remove special needs Victor School from boundary review proposal

VIDEO: Massive elk herd runs across Washington State highway

Elk have been making an appearance in the Pacific Northwest

Greater Victoria Wanted List for the week of Feb. 19

Greater Victoria Crime Stoppers is seeking the public’s help in locating the… Continue reading

Heritage minute features Japanese-Canadian baseball team, internment

The Vancouver Asahi baseball team won various championships across the Pacific Northwest

BREAKING: Woman, off-duty cop stabbed outside B.C. elementary school

The officer was interceding in an alleged assault when he and the woman were stabbed

$10-a-day child care not in 2019 budget, but advocate not irked

Sharon Gregson with the Coalition of Child Care Advocates of B.C. says NDP on track to deliver promise

Winter storm freezes U.S., halts air travel

Storm dumps snow or heavy rain, snarls travel in much of U.S.

Gwyneth Paltrow: Skier sued me to exploit my fame, wealth

The incident happened in Deer Valley Resort in Park City, Utah

B.C. Seniors Advocate questions labour shortage in care homes

Are there really no workers, or are care aide wages too low?

B.C. business groups worry about looming economic decline in wake of NDP budget

The party’s second government budget focused on plenty of spending, business advocates say

Most Read