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Main » 2016 » July » 4 » The bubble in the Canadian real estate market
09:18
The bubble in the Canadian real estate market

 

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The Canadian housing market has entered the zone of the bubble - said David Rosenberg, author of the publication of the regular financial Gluskin Sheff - on AMarkets materials.

 

AMarkets

 

Toronto and Vancouver - the city where home prices are overvalued in particular. Average house prices in the country increased by 13.2% in May year on year. Excluding Vancouver and Toronto prices grew by 9.1% - the data of the Canadian Real Estate Association. The Canadian market is attracting a lot of foreign players. In the near future the price of homes in Canada will continue to grow. The intensity of growth - the sharper and deeper the fall.


In the domestic market of Canada also notes the process is quite fast growth in mortgage debt. If the economic situation will worsen, mortgage debt would be another derivative bubble unhealthy demand for alternative international investment (in this case, the Canadian housing).


It is likely that the Bank of Canada will make a decision to increase the interest rate. This decision will push up the Canadian dollar and make Canadian exporters less competitive. Canadian authorities have attempted to reduce house prices by tightening credit mechanisms, as well as through the reduction of limits on the size of the loan, which is covered by the state guarantee. However, these measures did not bring noticeable effect.Market growing up, and growing further.

 

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