#TorontoRealEstate #TorontoHousingMarket #canadarealestate
Toronto’s real estate market could crash by 30%, similar to the 1990s, according to a new report by the Toronto Star. As the “riskiest housing bubble in the world”, according to UBS, Toronto’s housing market will suffer a major downturn in the coming months ahead, bottoming out in the spring of 2023… If interest rates don’t rise higher than 4.25%.
The report from the Toronto Star says the market is exhibiting alarmingly similar characteristics to the housing market of the early 1990s: Rising rates after a major increase in prices, massively reduced affordability, and real estate investors leaving the market.
However, real estate prices would have to fall 40-50% to return prices to where they were in December of 2020, which Philip Cross, former head of Statistics Canada, says is need to make real estate sustainable again.
Toronto’s real estate market will crash 30% or more by the spring, economists say. How bad will it be?:
UBS Global Real Estate Bubble Index 2022:
UBS Global Real Estate Bubble Index: At the tipping point:
Canada’s inflation beat boosts chances of 75 bps rate hike:
Inflation, consumer prices for Canada (FPCPITOTLZGCAN):
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