Westline condos logo . The housing bubble is nearing zero. The Organization for Economic Cooperation and Development (OECD) is still optimistic about the development of the Canadian economy as a whole, and has specifically expressed its new enthusiasm for the global economy.Please Visit: Westline condos logo to Get Your VVIP Registration Today!
The group said recently that it expects global economic growth to rise from 2.9 per cent this year to 3.3 per cent in 2017 and 3.6 per cent by 2018. The group creatively calls this growth trend the “Trump effect” and is expected to unfold around the world.
For Canada, despite the “moderate expansion of monetary policy in the 2016 federal budget”, the country’s economic growth has performed well. But the OECD has issued a stern warning: “High property prices, real estate investment and household debt pose risks to the stability of the financial system [in Canada].”
The chart provided by the OECD shows the real estate price index in Vancouver and Toronto. Compared with other parts of Canada, the two major cities account for 1/3 of Canada’s national real estate market index. Pay attention to the hook at the top of the red line: there is a faint sign that real estate prices in Vancouver may turn downwards.
The APEC report also warned that “there will be risks to the disorderly adjustment of the Canadian real estate market, especially in Toronto and Vancouver, where house prices remain high”. And when will this risk come? Last month, some industry insiders pointed out that there is now a price divergence and volatility in the Vancouver and Toronto real estate markets.