Bravo festival condos floor plan. The most dangerous city in real estate in Canada. The two riskiest cities in Canada, Toronto and Hamilton, reduced their risk levels from high-risk High risk, high-valued Overvalue, to medium-risk Moderate, respectively.Please Visit: Bravo festival condos floor plan to Get Your VVIP Registration Today!
CMHC believes that property prices in the two cities now better reflect the fundamentals of the economy. After the update of the report, only Victoria and Regina of BC Province in Canada still top the list of risk assessments.
With regard to market overheating, CMHC measures whether sales are significantly higher than listed; in terms of price increases, it depends on whether the slope of price increases is higher than the average, and excessive increases often represent speculative markets; in terms of value evaluation, CMHC focuses on other fundamentals such as whether house prices rise above income levels and whether mortgage rates begin to move. As for the supply of the property market, it depends on the vacancy rate of the housing rental market and whether the unsold volume of new housing completed is above the average.
According to these standards, CMHC uses different colors to show the current state of the real estate market. Green indicates that everything is normal, yellow indicates that there is evidence of problems in the real estate market, and red indicates that there are serious problems in the real estate market.
Toronto has been listed as overvalued by the CMHC for the past four years, and taking off the high-risk hat this time is good news for the Toronto property market. ‘We are seeing clear signs of improvement in the imbalance in the real estate market, ‘said Bob Dugan, chief economist at CMHC.
The report is based on property market information at the end of June, which has rebounded sharply in Toronto and Vancouver since June, with buyers flocking in and prices rising.
Since the Toronto real estate market was listed as a high-risk market in 2015, the value of Toronto real estate has bottomed out with subsequent price adjustments. Home sales in Toronto surged 14% in October, and average house prices rose 5.5%! Hamilton, Ontario is also the first time it has been removed from the list of high-risk real estate cities since the third quarter of 2016, and CMHC believes current prices are in line with local economic fundamentals.
However, it does not seem to be good enough. The probability of the Bank of Canada cutting interest rates at the end of the year began to rise after a net loss of 1800 jobs after this week’s October employment data. The Canadian dollar, which is most sensitive to interest policy, fell sharply this week, falling from above 76 cents.
