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

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Abbotsford Police target 30 school zones in 30 hours

‘30 in 30’ project runs Thursday and Friday at all elementary schools

Gunmen arrested after holdup of marijuana dispensary in Abbotsford

Two 18-year-old males demanded cash and weed before taking off on foot

Mistrial declared in Chilliwack’s David Lee Roth impersonator underage sex case

David Kuntz-Angel convicted in August but BC Supreme Court Justice’s ‘mental faculties’ questioned

Globetrotter competes at Abbotsford celebrity wheelchair basketball game

Zeus McClurkin one of several top athletes who hit the court at Rick Hansen Secondary

White Rock woman seeks fellow hockey players for BC 55+ Games

Sue Rittinger aiming to put Zone 3 women’s team together in time for September event

VIDEO: Rare ‘ice circle’ spotted on Kamloops river

An ice circle or ice pan, has formed in the chilly waters just east of the Yellowhead Bridge

B.C. man rescued after getting trapped headfirst in well as water level rose

The rescue involved crews from Oak Bay and Saanich

Investigators in wildfire-torn Australia head to site of B.C. airtanker crash

The B.C. government sends condolences to Port Alberni-owned Coulson Aviation

Mud slide prompts evacuation in Burnaby as rain saturates southern B.C.

About 20 metres of a five to six-metre high wall gave way

RCMP investigating sexual allegation against Lower Mainland police officer

Delta officer suspended while the alleged off-duty incident involving a co-worker is investigated

Former Mountie, sports coach convicted of sex abuse in B.C. granted day parole

Alan Davidson was sentenced to almost six years for abusing seven boys in the late 1970s and early 1990s

VIDEO: Person in wheelchair narrowly avoids collision with car in Kelowna

There were no injuries in the scary looking near-accident last week in Rutland

Here’s what Canada is doing to stop the coronavirus from getting in

Health officials are monitoring multiple possible cases in Canada

Fraser Valley poultry producer’s $130,000 fight with the CFIA earns him a red-tape award

Canadian Federation of Independent Business Paperweight Awards ‘honour’ government over-regulation

Most Read