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.