Central bank warns of Toronto, Vancouver housing risks
Ottawa
BANK of Canada governor Stephen Poloz has given one of his bluntest warnings to date about the country's housing boom, saying that Vancouver and Toronto buyers should realise strong price gains probably can't be sustained by economic fundamentals.
"This suggests that prospective homebuyers and their lenders should not extrapolate recent real estate performance into the future when contemplating a transaction," Mr Poloz said from Ottawa after publishing a semi-annual Financial System Review (FSR) on Thursday.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Half of German housing construction firms short on orders
China’s housing mess finally hits Xi’s interest
A way to beat high mortgage rates is to take over someone else’s loan
With China’s property market struggling, India, South Korea and Vietnam are hot
Shophouse sales surge and at higher prices in Q1 as high-net-worth investors return: Knight Frank
Sony’s plans for Paramount include sale of famous studio lot