Real Estate Professional forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Overvaluation warning for Canada’s hottest market

Notify me of new replies via email
Real Estate Professional | 13 Aug 2015, 12:10 PM Agree 0
One of Canada’s hottest real estate markets has been added to CMHC’s list of centres where the organization detects high levels of risk.
  • Ovis Ghani | 13 Aug 2015, 01:46 PM Agree 0
    Thanks to Chinese Investors and Builders who will build any thing if they see a vacant land
  • Dee | 15 Aug 2015, 07:12 PM Agree 0
    I can't agree with Ovis Ghani: I assume this is a sardonic response. When thinking of selling, consider this: would you show this and sell it to a close friend or family member? Probably not - that should be the litmus test.

    Vancouver market is a selling market unto itself, but can still experience serious overgrowth, over evaluation. With every BOOM! there follows a BUST. Now, it appears that only offshore buyers, Oriental and South Asian, are interested and can afford to buy Vancouver, North Vancouver and West Vancouver condos (since that is the current hot building market). They are looking at a short term investment to protect their money. Will not consider selling/reselling their properties. Supposedly purchased for family members, or young relatives attending university. Totally bogus in most cases. Heads up City of Vancouver - who's in control here????
  • Maxy | 16 Aug 2015, 03:08 AM Agree 0
    Does CHMC's Report deliberately left Saskatoon out of the prediction or was it an honest omission. It is hard to believe that property "hurricane" predicted for Winnipeg and Regina did not include Saskatoon as edging towards risky market classification. Going by the rate at which new buildings were and still are popping up on all vacant city surroundings, it sounds like wishful thinking to believe that Saskatoon is not experiencing overbuilding. Builders in the City has started enticing buyers with big rebates ranging from cash discounts to appliance vouchers. My take is that Saskatoon is also experincing overbuilding. A drive around the City will cause Eternal Optmists to think again. One does not need a degree in Economics to read the signs. I will love to be wrong on this.
  • | 16 Aug 2015, 02:08 PM Agree 0
    Shows how out of touch and outdated the CMHC is. Based on the cost of rebuilding and international market values, Toronto is still grossly undervalued.
Post a reply