Festival condos floor plan. House prices are overvalued? The International Monetary Fund (IMF) said in an assessment of the Canadian economy on the 3rd that the price of the Canadian housing market is still overvalued.Please Visit: Festival condos floor plan to Get Your VVIP Registration Today!
On the same day, the housing analysis report released by TD Bank of Canada also showed that Canadian house prices were overvalued by 10%.
The IMF report points out that Canadian household debt is still high and that overvalued housing prices and oversupply in the housing market are the causes of the housing bubble. A report released by TD Bank on the same day also believes that Canadian housing prices are overvalued by 10%. Regionally, house prices are more overvalued in big cities such as Toronto, Ottawa and Vancouver than in some parts of Canada near the Atlantic Ocean.
An analysis by TD Bank predicts that Canadian housing prices will remain generally stable in 2014, while they are expected to decline between 2015 and 2016 due to overdevelopment of the real estate market and rising borrowing costs. “as demand in the housing market weakens and supply increases, house price growth is expected to slow in the future,” said Diana Petramara, a real estate economist at TD Bank. “