{"id":8140,"date":"2018-02-07T10:10:00","date_gmt":"2018-02-07T18:10:00","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=8140"},"modified":"2018-02-04T12:04:49","modified_gmt":"2018-02-04T20:04:49","slug":"cmhc-housing-market-still-highly-vulnerable","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/02\/cmhc-housing-market-still-highly-vulnerable\/","title":{"rendered":"CMHC Housing Market Still Highly Vulnerable"},"content":{"rendered":"<p style=\"text-align: justify;\">The Canadian real estate market is supposed to be in the midst of a soft-landing, as the effects of a new mortgage stress test and an interest rate hike begin to take shape. But according to one industry organization, Canadians shouldn\u2019t let their guards down just yet.<\/p>\n<p style=\"text-align: justify;\">\u201cOur market assessment continues to show a high degree of vulnerability for the housing market at the overall national level, because of the combination of price acceleration and overvaluation,\u201d writes Canada Mortgage and Housing Corporation chief economist Bob Dugan, in a statement released today.<\/p>\n<p style=\"text-align: justify;\">According to Dugan, some centres in Ontario and BC remain \u201chighly overvalued,\u201d leaving the Canadian housing market at a \u201chigh degree of vulnerability.\u201d<\/p>\n<p style=\"text-align: justify;\">CMHC lists Toronto, Hamilton, Vancouver and Victoria as local markets that are particularly vulnerable to price acceleration and overvaluation.<\/p>\n<p style=\"text-align: justify;\">The organization defines vulnerability as imbalances in the housing market, which occur when overbuilding, over-evaluation, overheating and price acceleration depart significantly from historical averages.<\/p>\n<p style=\"text-align: justify;\">\u201cWhile house price growth has slowed, house price levels remained high relative to underlying economic fundamentals such as income and population growth [in Toronto],\u201d writes CMHC Toronto principal market analyst Dana Senagama, in a statement.<\/p>\n<p style=\"text-align: justify;\">It\u2019s worth noting that CMHC\u2019s assessment has not changed much over the last few months. In its last vulnerability assessment in October, Victoria, Vancouver, Hamilton and Toronto were all identified as vulnerable markets.<\/p>\n<p style=\"text-align: justify;\">As for markets with low vulnerability? CMHC identified overbuilding as a potential issue in some markets in western Canada, while markets in eastern Canada fared better and were considered to have low vulnerability.<\/p>\n<p style=\"text-align: justify;\">\u201cHouse prices in Calgary, Edmonton, Saskatoon and Regina appear broadly in line with fundamentals, but strong evidence of overbuilding is still observable,\u201d reads the report from the CMHC. \u201c[Meanwhile,] Manitoba, Quebec and Atlantic Canada housing markets were rated as showing low vulnerability.\u201d<\/p>\n<p><a href=\"http:\/\/news.buzzbuzzhome.com\/2018\/01\/canadian-real-estate-isnt-woods-yet-cmhc-warns-overvaluation-2018.html\" target=\"_blank\" rel=\"noopener\">Canadian Real Estate Isn\u2019t Out of the Woods yet \u2014 CMHC Warns of Overvaluation in 2018<\/a> by Sarah Niedoba | Buzz Buzz Home<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Canadian real estate market is supposed to be in the midst of a soft-landing, as the effects of a new mortgage stress test and an interest rate hike begin &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2018\/02\/cmhc-housing-market-still-highly-vulnerable\/\">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-8140","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>CMHC Housing Market Still Highly Vulnerable &#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\/02\/cmhc-housing-market-still-highly-vulnerable\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"CMHC Housing Market Still Highly Vulnerable &#8226; 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