Toronto is 4th largest housing bubble in the world: UBS

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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

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