Vancouver, Toronto Housing Markets Still Reeling

Longer-term prospects for the large, unaffordable housing markets in Toronto and Vancouver remain upbeat, but in the near term, the situation remains weak as the adjustment to stricter mortgage rules goes on.
Vancouver, Toronto Housing Markets Still Reeling
A sold sign is shown in front of a west-end Toronto home in this file photo. The housing bubbles in Vancouver and Toronto appear to be gradually deflating, but affordability is still extremely poor. The Canadian Press/Graeme Roy
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Longer-term prospects for the large, unaffordable housing markets in Toronto and Vancouver remain upbeat, but in the near term, the situation remains weak as the adjustment to stricter mortgage rules goes on. Reducing regulatory costs to increase supply, which would improve affordability, rests in the hands of the provincial and municipal governments, according to analysis from the C.D. Howe Institute.

Things are getting worse in Vancouver and it’s difficult to say if Toronto’s market has finally bottomed.

Rahul Vaidyanath
Rahul Vaidyanath
Journalist
Rahul Vaidyanath is a journalist with The Epoch Times in Ottawa. His areas of expertise include the economy, financial markets, China, and national defence and security. He has worked for the Bank of Canada, Canada Mortgage and Housing Corp., and investment banks in Toronto, New York, and Los Angeles.
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