{"id":10483,"date":"2018-10-08T10:10:31","date_gmt":"2018-10-08T17:10:31","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=10483"},"modified":"2018-09-28T12:13:17","modified_gmt":"2018-09-28T19:13:17","slug":"toronto-vancouver-housing-in-bubble-territory","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/10\/toronto-vancouver-housing-in-bubble-territory\/","title":{"rendered":"Toronto &#038; Vancouver Housing in &#8220;Bubble Territory&#8221;?"},"content":{"rendered":"<p style=\"text-align: justify;\">While housing activity in Toronto and Vancouver has cooled considerably over the past year, both cities remain in what one investment bank considers housing bubble territory.<\/p>\n<p style=\"text-align: justify;\">With home prices out of reach for many buyers in both cities, and well above their 10-year averages, UBS\u2019 global real estate bubble index places Toronto and Vancouver in what it calls a \u201cbubble risk.\u201d<\/p>\n<p style=\"text-align: justify;\">\u201cPrice bubbles are a regularly recurring phenomenon in property markets,\u201d reads the report. \u201cBubble risk appears greatest in Hong Kong, Munich, Toronto, Vancouver, London and Amsterdam.\u201d<\/p>\n<p style=\"text-align: justify;\">The index tracks the median home price-to-income ratio of cities around the world. Cities with a ratio of 1.5 or more fall into \u201cbubble risk\u201d territory, while those with ratios between -0.5 to 0.5 are considered \u201cfair-valued.\u201d Currently, Vancouver sits at 1.92, while Toronto comes in at 1.95.<\/p>\n<p style=\"text-align: justify;\">\u201cVancouver, whose house prices accelerated to a double-digit rate relative to last year, has a ballooning index score,\u201d reads the report. \u201cHigher stamp duties for foreign investors proved futile in braking its boom.\u201d<\/p>\n<p style=\"text-align: justify;\">But that doesn\u2019t mean nothing could \u2014 the report points out several potential situations that could pump the breaks on Vancouver\u2019s climbing prices.<\/p>\n<p style=\"text-align: justify;\">\u201cRising rates, stricter market regulations or an economic downturn could turn the lights out on the party given the high valuations and strained affordability,\u201d reads the report.<\/p>\n<p style=\"text-align: justify;\">It also notes that Toronto\u2019s price dynamics have slowed considerably over the last year, after the introduction of the Ontario government\u2019s Fair Housing Plan in the spring of 2017.<\/p>\n<p style=\"text-align: justify;\">\u201cSince the waning of the housing frenzy in the middle of last year, prices have stabilized over the past four quarters,\u201d it reads. \u201cHigher mortgage costs and tighter lending standards should limit the upside for the time being. But a short-term weakening of the Canadian dollar may again attract foreign buyers.\u201d<\/p>\n<p><a href=\"https:\/\/www.livabl.com\/2018\/09\/investment-bank-still-toronto-vancouver-housing-bubble-territory.html\" target=\"_blank\" rel=\"noopener\">This Investment Bank Still Has Toronto &amp; Vancouver Housing in &#8220;Bubble Territory&#8221;<\/a> by Sarah Niedoba | Livabl<\/p>\n","protected":false},"excerpt":{"rendered":"<p>While housing activity in Toronto and Vancouver has cooled considerably over the past year, both cities remain in what one investment bank considers housing bubble territory. With home prices out &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2018\/10\/toronto-vancouver-housing-in-bubble-territory\/\">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-10483","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Toronto &amp; Vancouver Housing in &quot;Bubble Territory&quot;? &#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\/10\/toronto-vancouver-housing-in-bubble-territory\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Toronto &amp; Vancouver Housing in &quot;Bubble Territory&quot;? &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"While housing activity in Toronto and Vancouver has cooled considerably over the past year, both cities remain in what one investment bank considers housing bubble territory. 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