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

Sylvan Lake Minor Football teams put up a collective 223-point shutout

The Lakers, Lions and Bears all had shutout games over the weekend

Sylvan Lake Terry Fox Run sees largest turnout ever

The annual run took a new course, starting at Lighthouse Park, going along Lakeshore to Jarvis Bay

Women’s Wellness Retreat and Wellness Expo returning to Sylvan Lake

The 16th annual event and its accompany expo will be held at the NexSource Centre next weekend

Three Sylvan Lakers compete at World Wake Surfing Championship

Sara Tallon, Derian Halsey and Hayden Becker competed in the championship in Utah, Sept. 5-7

Sylvan Lake’s rainbow crosswalk defaced with homophobic message

The crosswalk was repainted Thursday morning to remove traces of the spray-painted words

VIDEO: Liberals make child care pledge, Greens unveil platform on Day 6 of campaign

Green party leader Elizabeth May unveils her party’s platform in Toronto

National weather forecasters predict average fall, cold winter

The Weather Network says precipitation will about average in most parts of Canada

Conservatives promise tax cut that they say will address Liberal increases

Scheer says the cut would apply to the lowest income bracket

Fewer trees, higher costs blamed for devastating downturn in B.C. forestry

Some say the high cost of logs is the major cause of the industry’s decline in B.C.

Federal food safety watchdog says batch of baby formula recalled

The agency says it’s conducting a food safety investigation

Red Deer Rebels drop preseason tilt to Tigers 5-3

Rebels fail to score after three first period goals

Canada Post has unfair advantage in distributing flyers: news group

Crown corporation argues newspapers, private operators deliver majority of flyers in Canada

Mounties lay secrets-law charges against one of their own

Cameron Ortis has been charged under the Security of Information Act

Most Read