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The Canadian property bubble refers to a significant rise in Canadian real estate prices from 2002 to present which some observers have called a real estate bubble. From 2003 to 2018, Canada saw an increase in home and property prices of up to 337% in some cities. By 2018, home-owning costs were above 1990 levels when Canada saw its last housing bubble burst. Bloomberg Economics ranks Canada as the second largest housing bubble across the OECD in 2019 and 2021. Starting in February 2022, prices were expected to decline rapidly as the Bank of Canada hiked interest rates culminating in detached prices to decline by $40 in the Greater Toronto Area by September of 2022. But have remained the same to this day.
References
- ↑ "Census data" (PDF). www.census.gov. July 27, 2012.
- ↑ "Real Estate and Rental Vacancies|And What's Likely to Come next". March 8, 2018.
- ↑ "Canada's Rental Vacancy Rate Increases | CMHC". Archived from the original on 2013-07-02. Retrieved 2013-07-02.
- ↑ Bhatt, Sanjay (2013-10-16). "Seattle, Bellevue office space tight | Business & Technology". The Seattle Times. Retrieved 2018-06-17.
- ↑ Putzier, Konrad (24 April 2023). "Commercial Real-Estate Woes Run Deeper Than in Past Downturns". WSJ. Dow Jones / Wall Street Journal. Retrieved 24 April 2023.
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