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BMO thinks the peak of the bubble is two years away

Posted Mar 14th, 2017 in Karin, Buying, Selling, Market News

BMO thinks the peak of the bubble is two years away

Source: Daniel Tencer, The Huffington Post Canada, March 17, 2017

Toronto's Housing Bubble Has 24 Months To Live: BMO

Desperate homebuyers, take a two-year breather. Housing speculators, take warning.

Toronto’s house-price juggernaut is two years away from the sort of peak it reached it 1989, when a housing bubble burst in the city, BMO Economics says.

“At the rate we’re now going with 20-per-cent year-on-year price increases, assuming stable mortgage rates and continued income growth, we’ll be at 1989 valuation levels in about 24 months,” senior economist Robert Kavcic wrote in a note last week.

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