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

Cats of Third Avenue fire are safe and sound

Boris, Ben, Boomboom, and Bella were found two days after their home was set ablaze

St. Paul’s Lutheran Church hosting second flea market for Prince Rupert community

Prince Rupert community members are welcome to come browse or donate stuff for sale

Rushbrook Trail receives its annual spring spruce up

Kaien Island Trail Soceity and volunteers are keeping Prince Rupert’s trails clean

Prince Rupert school board meeting briefs: PRMS construction top priority

School District 52 seeks to replace Prince Rupert Middle School and Conrad Elementary

Baby birds hatched at Pembina worksite, construction halted temporarily

Bird nest sighting by the wharf on Watson Island, Prince Rupert

First ever Nisga’a mortuary totem pole unveiled in Prince Rupert cemetery on Father’s Day weekend

The pole was unveiled at Fairview Cemetery in honour of the late Robert Tait, renowned carver

WEB POLL: Would you like to see another mural go up where Zorba’s Taverna’s old one used to be?

The iconic quirky mural from Prince Rupert’s Greek restaurant was painted over this week

B.C. VIEWS: When farmland protection doesn’t protect farmers

Secondary residences aren’t mansions, families tell Lana Popham

Bombers down B.C. Lions 33-23 in season opener

Former Lion Andrew Harris leads Winnipeg with 148 rushing yards

Northern B.C. family remembers murdered Indigenous woman with memorial walk

Still no closure for Ramona Wilson’s family 25 years later

Give Hope Wings fundraiser launches Saturday from Pitt Meadows

Flying marathon will benefit low income Canadians needing flights for medical treatment

B.C. university to offer mentorship program for former youth in care

Students using the provincial tuition waiver program will soon be able to form a community at KPU

Cyclists competing in one of the toughest bike races on the planet pass through Fernie

Divide riders looking strong as they finish first leg of 4160 km race

You might not know these B.C. records are public

Hired a lawyer to file a civil claim? Those are published online

Most Read