Sagging home sales and flat prices have prompted speculation that the “housing bubble” might be about to burst a prospect that immediately catches the attention of British Columbians.
Canada’s housing market, while no longer red-hot, remains on steady ground, according to a report by Royal LePage.
A new doomsday report warns Vancouver’s housing market could be hit by a burst bubble — and a drop in prices by as much as 30 per cent.
The threat of a giant, synchronized real estate bubble looms over all six of Canada’s major cities, says the report released by the Canadian Centre for Policy Alternatives.
Canada’s major metropolitan housing markets are looking awfully bubbly and are due to burst, says a report released Tuesday.
The report, entitled Canada’s Housing Bubble: An Accident Waiting to Happen, by the Canadian Centre for Policy Alternatives, looks at prices in Toronto, Vancouver, Calgary, Edmonton, Montreal and Ottawa.
Housing markets across the country have been growing, but some of the major markets may have become overheated while others grew at a more moderate level, according to a national retail-sales organization.