Toronto Real Estate | Why is it cooling? | Credit Cycle
October 12, 2018
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Toronto Real Estate | Rental Market is on Fire
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UBS Bank ranks Toronto has next to Crash
November 23, 2017
Well it's not new that Toronto has been making the global headlines this year with it's soaring prices. UBS Bank recently released it's updated Global Real Estate Bubble Index Report. This year was the first to feature Toronto in this report. The bad news is Toronto ranked in first for potential of risk at crashing.
The triggers which they find that will push Toronto over the edge is interest rates increasing and if the Canadian dollar strengthens. This year interest rates have started to climb but this is due to the economy doing well and also to try to cool the very hot real estate market in Toronto. Which has been increased of over 50% in the last 5 years.
Toronto's single detached market has cooled over the beginning of the year but this has sparked the condo market to grow. With the fear of losing out of future appreciation many buyers still feel that they between a rock and a hard place as they are uncertainness with new mortgage rules coming into play January 2018.
Vancouver also made the list ranked in at 4th. Which has been in the media for the last few years with a lot of attention from the foreign buyer market. Will these markets continue to cool off or will there be a big jump in price corrections.