7 July 2011
According to Mr.Tal research average price is up approx. 8.6% in May compared to 2010. But if you would exclude Vancouver – price is up at 5.6% take out Toronto and it’s only 3.7% year over year increase!
For house market to fall it has to be two major contributors: sharp increase in mortgage rates and high volume of high-risk mortgages on banks books, he explains. Both of which are not presented in Canada.