Toronto and Vancouver now joined by two more Canadian cities with 'overvalued' homes

“Conversely, in eastern Canada, Ottawa, Montréal, Moncton, and Halifax entered the second quarter of 2020 with emerging imbalances in their respective housing markets. Observed house prices in all four had been growing prior to the onset of COVID-19 and continued growing in the second quarter, despite the general weakness in housing market fundamentals.

The CMHC rated the overall Canadian market as moderately vulnerable due to the general weakening of housing market fundamentals such as job losses, despite lower interest rates and federal wage supplements.Article content continuedPhoto by David Bloom/Postmedia News files

Watch the smaller areas in proximity to large centres, for instance places like Whistler where people from YVR are moving to. I noticed the house price range that is selling on our Gulf Island has shot up over last year. Perhaps a migration from city to more space(remote workers)

The beauty of not having a mortgage.

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