A lot has been spoken and written about the housing bubbles in both Toronto and Vancouver and the need for a market correction.
But now a Swiss bank UBS released its Global Housing Bubble Index which ranked Toronto and Vancouver third and fourth, respectively, in a survey of housing bubble indicators. Only Hong Kong and Munich are ranked as having bigger housing bubble risks.
For Toronto, the third-place finish is a good thing as last year it took first place in a similar ranking.
UBS noted that price growth among the major cities surveyed has slowed in the past year. -CINEWS