- Aug 6, 2012
- 27,963
- 24,773
- 2,405
In...the...world....
It is going to collapse, it's just a matter of when. Probably after the artificially surpressed property taxes are increased. Toronto has been funding the massive, expansion of the police among other expenses while not having increases to property taxes in many years.
This situation was easily predictable if anyone had cared to pay attention.
ca.finance.yahoo.com
It's not a title any city wants to have, but Toronto has been crowned number one in UBS's Global Real Estate Bubble Index.
Canada's largest housing market scored 2.24 on the index to put it in first place, with Frankfurt, Germany a close second at 2.21 and Zurich in third with an index score of 1.81.
The only other Canadian city to appear on the index is Vancouver in sixth place with a score of 1.70, sandwiched between Hong Kong and Amsterdam.
UBS cited strong population growth and, until more recently, ultra-low mortgage rates as being the main drivers of the "long-term property bonanza in both Canadian cities."
The abundance of real estate investors in the market also received a special nod in helping prop up home prices.
It is going to collapse, it's just a matter of when. Probably after the artificially surpressed property taxes are increased. Toronto has been funding the massive, expansion of the police among other expenses while not having increases to property taxes in many years.
This situation was easily predictable if anyone had cared to pay attention.
UBS crowns Toronto as bubbliest housing market in the world
The only other Canadian city to appear on the bank's Global Real Estate Bubble Index is Vancouver in sixth place with a score of 1.70, sandwiched between Hong Kong and Amsterdam.
It's not a title any city wants to have, but Toronto has been crowned number one in UBS's Global Real Estate Bubble Index.
Canada's largest housing market scored 2.24 on the index to put it in first place, with Frankfurt, Germany a close second at 2.21 and Zurich in third with an index score of 1.81.
The only other Canadian city to appear on the index is Vancouver in sixth place with a score of 1.70, sandwiched between Hong Kong and Amsterdam.
UBS cited strong population growth and, until more recently, ultra-low mortgage rates as being the main drivers of the "long-term property bonanza in both Canadian cities."
The abundance of real estate investors in the market also received a special nod in helping prop up home prices.
