{"id":20322,"date":"2016-04-27T20:24:51","date_gmt":"2016-04-28T01:24:51","guid":{"rendered":"http:\/\/olduvai.ca\/?p=20322"},"modified":"2016-04-27T20:25:12","modified_gmt":"2016-04-28T01:25:12","slug":"cmhc-says-many-major-housing-markets-showing-signs-of-overvaluation","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=20322","title":{"rendered":"CMHC says many major housing markets showing signs of overvaluation"},"content":{"rendered":"<div id=\"content\" class=\"wrap12 story-head\" tabindex=\"0\">\n<div class=\"colfull\">\n<div class=\"story-headline\">\n<h3 class=\"story-title\"><a href=\"http:\/\/www.cbc.ca\/news\/business\/cmhc-housing-vancouver-toronto-prices-1.3555680\">CMHC says many major housing markets showing signs of overvaluation<\/a><\/h3>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"wrap8 story-primary\">\n<div id=\"leadmedia\" class=\"story-leadmedia col8\">\n<div class=\"figure\">\n<p><img decoding=\"async\" title=\"\" src=\"http:\/\/i.cbc.ca\/1.1585150.1379104816!\/httpImage\/image.jpg_gen\/derivatives\/16x9_620\/hi-construction.jpg\" alt=\"Nine of the 15 largest Canadian housing markets are showing some signs of overvaluation, the CMHC said.\" width=\"100%\" height=\"349\" \/><\/p>\n<p class=\"figure-caption\">Nine of the 15 largest Canadian housing markets are showing some signs of overvaluation, the CMHC said.<\/p>\n<\/div>\n<\/div>\n<div class=\"wrap8 story-bodywrapper sclt-storybody\">\n<div id=\"sharecount_gig_containerParent\" class=\"story-middle col2\">\n<div id=\"sharecount\" class=\"sclt-share\">\n<div id=\"yui_3_11_0_1_1461805998368_15\" class=\"gig-bar-container gig-share-bar-container\">Canada&#8217;s national housing agency says nine of Canada&#8217;s 15 largest housing markets are showing signs of being overvalued.<\/div>\n<\/div>\n<\/div>\n<div class=\"story-body\">\n<div class=\"story-content\">\n<p>The Canada Mortgage and Housing Corporation said in its quarterly Housing Market Assessment Wednesday that a majority of Canada&#8217;s large housing markets are showing either &#8220;moderate&#8221; or &#8220;strong&#8221; evidence of being overvalued.<\/p>\n<p>The housing agency looks at housing\u00a0markets to gauge their health based on four factors:<\/p>\n<ul>\n<li>overheating \u2014 when demand is significantly and persistently outpacing supply<\/li>\n<li>overvalued \u2014 when prices are higher than they should be based on\u00a0economic fundamentals<\/li>\n<li>accelerating \u2014 when house prices are increasing faster than\u00a0household\u00a0costs\u00a0of living are<\/li>\n<li>overbuilding\u00a0\u2014 when supply of new homes significantly outpaces demand.<\/li>\n<\/ul>\n<p>The agency rates each market on a colour coded scale where green means there is little evidence of that factor, yellow means there is moderate evidence of it and red means there is strong evidence of it.<\/p>\n<ul>\n<li><strong><a href=\"https:\/\/www.cmhc-schl.gc.ca\/en\/corp\/nero\/nere\/2016\/2016-04-27-1200.cfm\">Read the CMHC&#8217;s report here<\/a><\/strong><\/li>\n<\/ul>\n<p>On the overvaluation front, the CMHC says there is moderate or strong evidence of that happening in Vancouver, Edmonton, Calgary, Saskatoon, Regina, Hamilton, Toronto, Montreal and Quebec City.<\/p>\n<div class=\"story-embed\"><iframe loading=\"lazy\" class=\"story-embed-item\" src=\"http:\/\/www.youtube.com\/embed\/1cTucgFNpOU\" width=\"100%\" height=\"100%\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/div>\n<p>Four of those cities \u2014 Toronto, Quebec City, Vancouver and\u00a0Saskatoon\u00a0\u2014 now show &#8220;strong&#8221; signs of overvaluation.<\/p>\n<p>The first two were singled out in the agency&#8217;s last report on housing in January. But the latter two were only recently given their red warning on overvaluation.<\/p>\n<p>In Vancouver&#8217;s case, the housing agency said &#8220;Single-detached home prices are now observed to be at levels higher than those consistent with financial, economic and demographic fundamentals.&#8221;<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>CMHC says many major housing markets showing signs of overvaluation Nine of the 15 largest Canadian housing markets are showing some signs of overvaluation, the CMHC said. Canada&#8217;s national housing agency says nine of Canada&#8217;s 15 largest housing markets are showing signs of being overvalued. The Canada Mortgage and Housing Corporation said in its quarterly [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[103,13667,3544,3000,3342,2340],"class_list":["post-20322","post","type-post","status-publish","format-standard","hentry","category-economics","tag-canada","tag-canadian-mortgage-and-housing-corporation","tag-cbc","tag-cbc-news","tag-cmhc","tag-housing-market"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/20322","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20322"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/20322\/revisions"}],"predecessor-version":[{"id":20324,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/20322\/revisions\/20324"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20322"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20322"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20322"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}