As real estate professionals, it seems hard to avoid the topic of a real estate bubble when discussing the Toronto housing market. The last few years have seen significant increases in value for homes in the GTA, prompting many in the industry to voice concerns over where things are headed.
Recently Purview For Lenders discussed some of the highlights from various conversations regarding the likelihood of a housing bubble and the various causes, including the thoughts of Bank of Canada governor Stephen Poloz and Sherry Cooper, chief economist for Dominion Lending Centers. You can read more on this here http://purviewforlenders.com/toronto-housing-market-do-the-fundamentals-support-speculation-that-the-market-is-too-hot/.
What are your thoughts? Do you believe we are headed for troubled waters? Supply and demand have driven home prices up so high that affordable housing is becoming harder to come by for the average Canadian. Do you think that this will eventually cause the market to crash, especially if rates continue to rise as speculated?
At Teranet, we are dedicated to providing you with the most up-to-date, accurate property data available, no matter where the Toronto housing market is headed. Find out more at www.teranet.ca.