“Toronto: “The looming supply of condos

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Canada Goose Jackets Roubini, a New York University economics professor and chairman of Roubini Global Economics.”In emerging markets, bubbles are appearing in Hong Kong, Singapore, China, and Israel, and in major urban centres in Turkey, India, Indonesia, and Brazil,” he added.”Signs that home prices Cheap Canada Goose are entering bubble territory in these economies include fast rising home prices, high and rising price to income ratios, and levels of mortgage debt as a share of household debt.”Certainly, that last bit is a big problem in Canada, and a headache for policy makers, though credit growth has slowed noticeably.Canada’s housing slumped after the federal government engineered a slowdown with new mortgage insurance restrictions in the summer of 2012.Story continues below advertisementBut, as The Globe and Mail’s Tara Perkins has documented, it has since rebounded, with the latest numbers this week showing strong sales in several key cities.Among them were Toronto, where sales climbed 14 Canada Goose Sale per cent in November from a year earlier, Vancouver, up 38 per cent, and Calgary, up 19 per cent.”Based on trends in October in the rest of the country, we are likely looking at a national sales gain of around 7 per cent year over year for November,” said chief economist Douglas Porter of BMO Nesbitt Burns.”True, a bit less piping hot that earlier in the fall, and true Canada Goose Outlet last November was weak, but the main point is that sales are holding up very well.”Prices are also “holding up very well indeed,” Mr. Porter added, noting average price gains of 11 per cent in Toronto.For its part, the Bank of Canada, which had long been troubled by the record debts of Canadian families, said this week it “continues to expect a soft landing in the housing market.”Story continues below advertisementAnd in a report this week, BMO looked at four cities, and projected no real trouble, though there are canada goose sale some soft spots.Here’s what senior economist Sal Guatieri expects:Calgary: “Strong economic and population growth will encourage an upward tend in Calgary’s house prices, though higher borrowing costs will moderate the gains.”Toronto: “The looming supply of condos, high valuations of detached homes, elevated levels of household debt and expected higher interest rates should cool price gains in 2014, even as new immigrant and echo boomers provide support. canada goose outlet https://www.csjpembroke.ca Cheap Canada Goose Toronto house prices are at risk of declining moderately when interest https://www.csjpembroke.ca/ rates normalize.”Vancouver: “We expect condo prices to remain flat in 2014, as healthy demographic demand from echo boomers and immigrants counters the downward pull from a moderately high number of vacant unsold units. Canada Goose Jackets

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