It is almost laughable to think that anyone thought that Canada was in a housing bubble in 2013, especially after what we witnessed in 2016, and what is going on in Toronto as we speak. The Globalization and Monetary Policy Institute of the Federal Reserve Bank of Dallas (Dallas Fed) publishes international house price data on a quarterly basis. This seasonally-adjusted index looks at single-family house prices in 23 different countries. The last reading was Q3-2016, and it showed Canada had the highest annual price growth among the 23 nations at 15.5%. The majority of that increase can be attributed to the rapid rise in Vancouver and Toronto. Based on this data, you could make the case that Canada is in a bubble. Let’s dig deeper into the data and see where ‘Canada in 2016’ stacks up against other price booms over the past 40 years.
Is Canada (Still) Experiencing One of the Biggest Housing Bubbles in the World?
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Fortress and Kingridge complete sale of Oakville Commercial Lands
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