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

Federal candidates debate environmental issues in Castlegar

Few sparks and much agreement between candidates that action is needed

Check your mail for your Voter Information Card

Your Voter Information Card identifies where you can vote in advance and on election day

WATCH: South Okanagan-West Kootenay candidates answer students’ questions at Grand Forks forums

The Grand Forks Gazette filmed the all-candidates’ public forum, held Oct. 8 at Grand Forks Secondary

Grand Forks affordable housing units ready for occupancy

Tenants may begin moving in by early November

Greenwood Board of Trade to host weekly community bonfires through October

The community fires will run every Sunday from 7 to 10 p.m., starting Oct. 6

Election 2019: Connie Denesiuk – Liberal Party candidate for South Okanagan – West Kootenay

Connie Denesiuk is running for the Liberal Party in the South Okanagan – West Kootenay riding

Potent power play paces Canucks to 5-1 win over Detroit

Miller nets a pair as Vancouver wins third straight

UPDATE: British couple vacationing in Vancouver detained in U.S. after crossing border

CBP claims individuals were denied travel authorization, crossing was deliberate

After losing two baby boys, B.C. parents hope to cut through the taboo of infant death

Oct. 15 is Pregnancy and Infant Loss Awareness Day in B.C.

Cheating husband sues mistress for gifted ring after wife learns about affair

The husband gave his mistress $1,000 to buy herself a ring in December 2017

B.C. massage therapist reprimanded, fined for exposing patients’ breasts

Registered massage therapist admits professional misconduct

B.C. boosts legal aid funding in new payment contract

‘Duty counsel’ service restored in some communities, David Eby says

Rugby Canada helps recovery efforts in Japan after typhoon cancels final match

Canadian players wanted to “give back in whatever small way they could”

Most Read