UBS crowns Toronto as bubbliest housing market in the world

Out of 25 major real estate markets around the world, Toronto housing scored the highest on UBS' Global Real Estate Bubble Index REUTERS/Mark Blinch

The only other Canadian city to appear on the index is Vancouver in sixth place with a score of 1.70, sandwiched between Hong Kong and Amsterdam. "Bubble risk for both Canadian cities is again highly elevated," UBS said in the report, released on Wednesday. "In such overheated markets, with already very stretched housing affordability, the recent rate hikes by the Bank of Canada could be the last straw that broke the camel's back," the report said.

Scott Ingram, a chartered professional accountant and realtor with Toronto-based Century 21 Regal Realty, says it was a "definite head-scratcher" on why the housing shortage was not mentioned more prominently by UBS, especially considering Canada's ramped-up immigration targets.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Toronto picked as UBS’s bubbliest housing market as prices drop - BNN BloombergToronto’s housing market is looking like the world’s biggest real estate bubble, with Frankfurt not far behind in a UBS Group AG study of cities with the greatest potential for home-price declines in the coming months. Toronto's real estate market will stay hot as long as JustinTrudeau keeps the immigration doors wide open! . JohnTory you have failed Toronto bucko.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Condo Market Share Climbs to Over 50% in Vancouver, Over 30% in GTAA new report by RE/MAX showed that condo market share is growing, pointing to a lack of affordability in housing markets across Canada.
Source: storeyspub - 🏆 16. / 74 Read more »