Pursuits
Plankton and Other Reasons Why Canada Housing Won’t Crash
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Stuart Levings, head of Genworth MI Canada Inc., the country’s largest private mortgage insurer, has a message for U.S. investors: red hot housing markets in Toronto and Vancouver aren’t about to plummet.
The chief executive officer has his work cut out for him. Figures Tuesday showed Vancouver prices soared 9.4 percent in May from a year ago and the average price of a detached home reached a record C$1,417,409 ($1,143,994). In Toronto prices rose 11 percent on average to C$649,599.