bravo festival condos.Canada has the worst real estate bubble in the world. A recent research report shows that there is a serious real estate bubble in Canada, which ranks first in the world.Please Visit: bravo festival condos to Get Your VVIP Registration Today!
The study takes into account four indicators in assessing the state of the real estate market in each country, namely, the price-to-rent ratio, the price-to-income ratio, the real house price and the proportion of household loans to GDP.
As a result, New Zealand and Canada topped the bubble list, followed by Australia, the UK, Norway and Sweden.
More surprisingly, the report points out that real house prices in Canada are among the highest in the world and have been more frightening than major bubble cities in the United States since 2000. In the first half of this year, real estate prices in Toronto rose 239.9% from a year earlier; prices in Montreal rose 189%; and the most exaggerated was Vancouver, where prices soared by 315%.
The city with the fastest rise in house prices is Toronto, where house prices rose 33.67% higher than Los Angeles, 45.27% higher than San Francisco, 61.01% higher than Seattle and 133.39% higher than New York between January 2000 and March 2019.
Vancouver and Toronto are still the two most expensive rental cities in Canada, according to a new rental report.
In Vancouver, the average rent for a two-bedroom house is 2833 yuan. In Toronto, the average rent for a two-bedroom house is about 2782 yuan, and a room costs 2300 yuan, and nine of the top ten most expensive rental cities are in the Greater Toronto area.
Although seemingly booming, Canada’s economy has been in a quagmire for years, and the poor economic data are surprising.
According to the World Bank, Canada’s GDP was $1.843 trillion in 2013, but only $1.653 trillion in 2017, and real estate has a growing impact on Canada’s GDP. That is to say, when the real estate market is bad, the whole Canadian economy will be depressed.
After the Canadian real estate bubble burst, there is no doubt that the economy will be weak, people’s quality of life will be affected, and even the situation of borrowing money to buy food will be repeated.
In addition, it is worth mentioning that Canadian household debt is already equivalent to 101 per cent of GDP, the highest in the world, compared with less than 80 per cent of GDP in the US and 60 per cent of GDP in Germany and France.