CMHC says that \u201cstrong evidence of problematic conditions\u201d remains for Canada\u2019s housing market as growing house prices clashes with a slowing of adult population growth and a decrease in disposable household income.<\/p>\n
The agency\u2019s early warning system report shows that evidence of overvaluation at the national level remains moderate but strong evidence is seen in Toronto, Vancouver, Hamilton and Victoria.<\/p>\n
\u201cWe\u2019ve maintained Canada\u2019s overall rating at strong evidence of problematic conditions as we continue to see moderate overvaluation and price acceleration,\u201d said Bob Dugan, Chief Economist.<\/p>\n
Vancouver is now showing moderate evidence of overheating due to townhomes and apartments seeing high demand leading to multiple-offer situations and higher prices, the report warns.<\/p>\n
Toronto continues to show strong evidence of problematic conditions.<\/p>\n
Economic fundamentals like income and population growth cannot fully explain the rapid growth in house prices in Toronto,\u201d said Dana Senagama, Principal Market Analyst (Toronto).<\/p>\n
CMHC also highlights that evidence of overbuilding has increased from six centers to seven with rental apartment building in Quebec outpacing demand.<\/p>\n
There is also moderate to strong evidence of overbuilding in markets in the Prairies.<\/p>\n","protected":false},"excerpt":{"rendered":"
CMHC says that \u201cstrong evidence of problematic conditions\u201d remains for Canada\u2019s housing market as growing house prices clashes with a slowing of adult population growth and a decrease in disposable household income. The agency\u2019s early warning system report shows that evidence of overvaluation at the national level remains moderate but strong evidence is seen in […]<\/p>\n","protected":false},"author":3,"featured_media":25782,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts\/10059"}],"collection":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/comments?post=10059"}],"version-history":[{"count":1,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts\/10059\/revisions"}],"predecessor-version":[{"id":25781,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts\/10059\/revisions\/25781"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/media\/25782"}],"wp:attachment":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/media?parent=10059"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/categories?post=10059"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/tags?post=10059"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}