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Toronto’s Hot Housing Market Raised to ‘High Risk’ by Regulator

  • Pandemic era’s run-up in prices shows no signs of a slowdown
  • CMHC also sees other large cities as vulnerable to correction
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Canada’s Economy Supported by Never-Ending Housing Boom

Canada’s housing agency raised its risk assessment for the Toronto market to high, while also warning of overheating at the national level as the pandemic-driven surge in home prices shows no signs of slowing.

The Canada Mortgage and Housing Corp. now rates five of the country’s major markets as having a “high degree of vulnerability” to a sharp correction in prices, with Ottawa and Halifax joining the smaller centers of Hamilton and Moncton in the category.