Canadian Real Estate Is Playing With Fire, Approaching Classic Bubble: BMO
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.
Original Article Source Credits: Better Dwelling , https://betterdwelling.com/
Article Written By: Daniel Wong
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Link to Original Article: https://betterdwelling.com/canadian-real-estate-is-playing-with-fire-approaching-classic-bubble-bmo/