Speaking to BNN, Sadiq Adatia said that Vancouver had already seen a housing bubble burst and warned that in Toronto there is likelihood that the market will “kind of stop and come off a cliff.”
Adatia said that demand is still driving the market in Toronto but is starting to slow with the danger arising from the sharp rise in prices in a relatively short time.
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Following recent warnings about the heat in the Toronto housing market from some economists, the chief investment officer of Sun Life Financial has voiced his concerns.