Canadian Real Estate Is Playing With Fire, Approaching Classic Bubble: BMO

Author: External Author | | Categories: Mortgage Broker

The warning is coming from inside the house, and it’s not from one of Bay Street’s bears. BMO senior economist Robert Kavcic said Canada is “playing with fire” in a note this week. Looking at the percent of income needed to carry a mortgage on homes, he doesn’t think 2017 was a bubble. The current situation is rapidly turning into one though. If mortgage rates rise, or stay the same and prices rise at the current pace, the market hits classic bubble levels.

Read More

Original Article Source Credits:   Better Dwelling ,

Article Written By:  Daniel Wong

Original Article Posted on:  

Link to Original Article: