Canadian Finance Minister Bill Morneau said on Wednesday that the country’s expensive housing market is a “very real issue” and the government was “looking at all evidence” as it considers whether it needs to move again to tighten mortgage regulations. Noting that the Vancouver market was “very strong” and the Toronto market was “strong … […]
Vancouver may have just add another notch to its reputation for being pricey. According to U.S. group Demographia, Vancouver is the third-least affordable city in the world for a home, and construction constraints are to blame for rising home prices there and in other Canadian cities. Wendell Cox, the principal owner at Demographia, which looked […]
Cheap borrowing costs are driving up prices in markets around the world In a survey of housing costs around the world, the Economist magazine says Canada’s housing prices are 35 per cent overvalued when compared to Canadian incomes. Against the level of Canadian rents, housing prices come in 89 per cent overvalued, according to the […]
The International Monetary Fund is raising red flags about Canada’s housing market, warning that moves by Ottawa in recent years to tighten mortgage lending standards and boost oversight of the country’s financial system haven’t gone far enough. Household debt levels remain well above those in other Western countries, the organization said in a commentary posted […]
