{"id":10134,"date":"2018-08-27T11:11:58","date_gmt":"2018-08-27T18:11:58","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=10134"},"modified":"2018-08-27T10:16:09","modified_gmt":"2018-08-27T17:16:09","slug":"cmhc-flagged-vancouver-market-as-being-65-overvalued","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/08\/cmhc-flagged-vancouver-market-as-being-65-overvalued\/","title":{"rendered":"CMHC Flagged Vancouver Market as Being 65% Overvalued"},"content":{"rendered":"<p style=\"text-align: justify;\">In its last quarterly assessment of major Canadian real estate markets, Canada Mortgage and Housing Corporation flagged Vancouver for showing signs of being overvalued.<\/p>\n<p style=\"text-align: justify;\">Now, news magazine the Economist has put a number to it.<\/p>\n<p style=\"text-align: justify;\">In its Global Cities House-Price Index, the Economists\u2019 data team pegged the Vancouver market as being 65% overvalued.<\/p>\n<p style=\"text-align: justify;\">The Economist looked at 22 global cities and found Vancouver was the fifth most overvalued. Only Hong Kong, Brussels, Paris, and Auckland surpassed it.<\/p>\n<p style=\"text-align: justify;\">To determine whether a city was overvalued, data analysts compared rents and median incomes to home prices, drawing on a vast number of local sources.<\/p>\n<p style=\"text-align: justify;\">The index-topping Hong Kong market was 94% overvalued. Auckland, the biggest city in New Zealand, where lawmakers recently decided to ban foreigners from buying homes in most cases, followed at 75%.<\/p>\n<p style=\"text-align: justify;\">Paris and Brussels were deemed overvalued by 70% and 67%, respectively.<\/p>\n<p style=\"text-align: justify;\">\u201cThe three reasons why cities have experienced a property boom \u2014 and why it may now be ending \u2014 are demand, supply and the cost of money,\u201d writes the Economist.<\/p>\n<p style=\"text-align: justify;\">Just Tokyo and Singapore were considered undervalued, but the average rate of home price inflation for the 22 indexed cities is cooling.<\/p>\n<p style=\"text-align: justify;\">The Economist suggests one factor that may contribute to the end of the global house price runup is reduced demand as more and more people are priced out of major cities.<\/p>\n<p style=\"text-align: justify;\">No other Canadian cities were included in the index, but the Economist says Canada\u2019s national house prices are more than 20% above fair value when stacked up against income.<\/p>\n<p style=\"text-align: justify;\">Since the first quarter of the year 2000, house prices in Vancouver have soared 203%, according to the Economist.<\/p>\n<p style=\"text-align: justify;\">The Economist says \u201clarge inflows\u201d of foreign investors have boosted demand in Vancouver.<\/p>\n<p style=\"text-align: justify;\">According to Statistics Canada, non-residents own about 7% of the residential properties in Metro Vancouver.<\/p>\n<p><a href=\"https:\/\/www.livabl.com\/2018\/08\/overvalued-vancouver-housing-economist.html\" target=\"_blank\" rel=\"noopener\">Economist : This is How Overvalued Vancouver Housing Is<\/a> by Josh Sherman | Livabl<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In its last quarterly assessment of major Canadian real estate markets, Canada Mortgage and Housing Corporation flagged Vancouver for showing signs of being overvalued. Now, news magazine the Economist has &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2018\/08\/cmhc-flagged-vancouver-market-as-being-65-overvalued\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-10134","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CMHC Flagged Vancouver Market as Being 65% Overvalued &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2018\/08\/cmhc-flagged-vancouver-market-as-being-65-overvalued\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"CMHC Flagged Vancouver Market as Being 65% Overvalued &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"In its last quarterly assessment of major Canadian real estate markets, Canada Mortgage and Housing Corporation flagged Vancouver for showing signs of being overvalued. Now, news magazine the Economist has &hellip; [read more]\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/08\\\/cmhc-flagged-vancouver-market-as-being-65-overvalued\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/08\\\/cmhc-flagged-vancouver-market-as-being-65-overvalued\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"CMHC Flagged Vancouver Market as Being 65% Overvalued\",\"datePublished\":\"2018-08-27T18:11:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/08\\\/cmhc-flagged-vancouver-market-as-being-65-overvalued\\\/\"},\"wordCount\":310,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"articleSection\":[\"Market Updates\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/08\\\/cmhc-flagged-vancouver-market-as-being-65-overvalued\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/08\\\/cmhc-flagged-vancouver-market-as-being-65-overvalued\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/08\\\/cmhc-flagged-vancouver-market-as-being-65-overvalued\\\/\",\"name\":\"CMHC Flagged Vancouver Market as Being 65% Overvalued &#8226; Rory C Real Estate | Oakwyn Realty\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\"},\"datePublished\":\"2018-08-27T18:11:58+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/08\\\/cmhc-flagged-vancouver-market-as-being-65-overvalued\\\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/08\\\/cmhc-flagged-vancouver-market-as-being-65-overvalued\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2018\\\/08\\\/cmhc-flagged-vancouver-market-as-being-65-overvalued\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"CMHC Flagged Vancouver Market as Being 65% Overvalued\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\",\"name\":\"Rory C Real Estate | Oakwyn Realty\",\"description\":\"Rory C Real Estate Updates | Home Selling &amp; Buying\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-CA\"},{\"@type\":[\"Person\",\"Organization\"],\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\",\"name\":\"Rory Clipsham\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"contentUrl\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"width\":504,\"height\":504,\"caption\":\"Rory Clipsham\"},\"logo\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\"},\"sameAs\":[\"http:\\\/\\\/www.roryc.ca\\\/\",\"https:\\\/\\\/www.facebook.com\\\/pg\\\/BurnabyandCoquitlamHomes\\\/about\\\/?ref=page_internal\",\"https:\\\/\\\/www.instagram.com\\\/roryclipshamhomes\\\/\",\"https:\\\/\\\/x.com\\\/RoryClipsham\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"CMHC Flagged Vancouver Market as Being 65% Overvalued &#8226; Rory C Real Estate | Oakwyn Realty","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.roryc.ca\/blog\/2018\/08\/cmhc-flagged-vancouver-market-as-being-65-overvalued\/","twitter_card":"summary_large_image","twitter_title":"CMHC Flagged Vancouver Market as Being 65% Overvalued &#8226; Rory C Real Estate | Oakwyn Realty","twitter_description":"In its last quarterly assessment of major Canadian real estate markets, Canada Mortgage and Housing Corporation flagged Vancouver for showing signs of being overvalued. Now, news magazine the Economist has &hellip; [read more]","twitter_creator":"@RoryClipsham","twitter_site":"@RoryClipsham","twitter_misc":{"Written by":"Rory Clipsham","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.roryc.ca\/blog\/2018\/08\/cmhc-flagged-vancouver-market-as-being-65-overvalued\/#article","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/2018\/08\/cmhc-flagged-vancouver-market-as-being-65-overvalued\/"},"author":{"name":"Rory Clipsham","@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"headline":"CMHC Flagged Vancouver Market as Being 65% Overvalued","datePublished":"2018-08-27T18:11:58+00:00","mainEntityOfPage":{"@id":"https:\/\/www.roryc.ca\/blog\/2018\/08\/cmhc-flagged-vancouver-market-as-being-65-overvalued\/"},"wordCount":310,"commentCount":0,"publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"articleSection":["Market Updates"],"inLanguage":"en-CA","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.roryc.ca\/blog\/2018\/08\/cmhc-flagged-vancouver-market-as-being-65-overvalued\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.roryc.ca\/blog\/2018\/08\/cmhc-flagged-vancouver-market-as-being-65-overvalued\/","url":"https:\/\/www.roryc.ca\/blog\/2018\/08\/cmhc-flagged-vancouver-market-as-being-65-overvalued\/","name":"CMHC Flagged Vancouver Market as Being 65% Overvalued &#8226; Rory C Real Estate | Oakwyn Realty","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/#website"},"datePublished":"2018-08-27T18:11:58+00:00","breadcrumb":{"@id":"https:\/\/www.roryc.ca\/blog\/2018\/08\/cmhc-flagged-vancouver-market-as-being-65-overvalued\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.roryc.ca\/blog\/2018\/08\/cmhc-flagged-vancouver-market-as-being-65-overvalued\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.roryc.ca\/blog\/2018\/08\/cmhc-flagged-vancouver-market-as-being-65-overvalued\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.roryc.ca\/blog\/"},{"@type":"ListItem","position":2,"name":"CMHC Flagged Vancouver Market as Being 65% Overvalued"}]},{"@type":"WebSite","@id":"https:\/\/www.roryc.ca\/blog\/#website","url":"https:\/\/www.roryc.ca\/blog\/","name":"Rory C Real Estate | Oakwyn Realty","description":"Rory C Real Estate Updates | Home Selling &amp; Buying","publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.roryc.ca\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-CA"},{"@type":["Person","Organization"],"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7","name":"Rory Clipsham","image":{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","url":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","contentUrl":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","width":504,"height":504,"caption":"Rory Clipsham"},"logo":{"@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg"},"sameAs":["http:\/\/www.roryc.ca\/","https:\/\/www.facebook.com\/pg\/BurnabyandCoquitlamHomes\/about\/?ref=page_internal","https:\/\/www.instagram.com\/roryclipshamhomes\/","https:\/\/x.com\/RoryClipsham"]}]}},"_links":{"self":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/10134","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/comments?post=10134"}],"version-history":[{"count":1,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/10134\/revisions"}],"predecessor-version":[{"id":10135,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/10134\/revisions\/10135"}],"wp:attachment":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/media?parent=10134"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/categories?post=10134"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/tags?post=10134"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}