Toronto homebuyers should not expect the frantic pace and blistering prices of the housing market to continue, warns the head of the Bank of Canada. “Prospective homebuyers and their lenders should not extrapolate recent real estate performance into the future when contemplating a transaction,” Stephen Poloz said Thursday with the release of the bank’s […]
Archives for June 14, 2016
High house prices making home ownership in Toronto and Vancouver unaffordable
Soaring home prices in Toronto and Vancouver are testing levels of affordability not seen since the early 1990s, when the country was in a recession and mortgage rates were north of 10 per cent. “In Toronto, we’re not as bad as 1990, but we’re not that far from it either,” said Robert Hogue, senior […]