Tuesday , 3 August 2021

Toronto Has World’s 2nd Biggest Housing Bubble, San Francisco is #10

Toronto real estate is climbing up the charts, and is back to the second highest risk for a bubble. This is up from the number three spot it held in 2018, but down from topping the list in 2017.

The firm notes that Toronto prices are largely unchanged from last year, but prices did triple from 2000 to 2017.  #munKNEE/Money! They estimate a 650 sq. ft. apartment now costs 25 years worth of rent, up from 16 years just a decade ago.

UBS - Global Real Estate Correction Phase Emerging, Toronto Climbs Bubble List - RankSource: UBS Global Real Estate Bubble Index

Global real estate markets are seeing rates fall across the board, and prices deflate. Traditionally lower rates lead to more favorable financing, and higher prices. More favorable financing isn’t enough right now, as economic anxiety hits ahead of a possible global downturn.

UBS - Global Real Estate Correction Phase Emerging, Toronto Climbs Bubble List - Price ChangeSource: UBS Global Real Estate Bubble Index

Related Articles from the munKNEE Vault:

1. Mapped: The Countries With the Highest Housing Bubble Risks

2. 8 Views Of U.S. Home Ownership By State

3. These 4 Metrics Track Rising Bubble Risks In 22 Housing Markets

4. Canadian Real Estate Price Growth Dwarfs Even the Frothiest of U.S. Cities – Check it Out

5. Global Housing Market: How Likely Is It To Implode?

6. Cross-Border Comparison Of Best & Worst Cities For Housing Affordability – How Does Your City Fare?

Editor’s Note: The above excerpts are from the original article by BetterDwelling.comand have been re-formatted, color highlighted, edited ([ ])* and abridged (…) by Lorimer Wilson, editor of munKNEE.com – Your KEY To Making Money! – for the sake of clarity, and brevity to provide a fast and easy read.

Scroll to very bottom of page & add your comments on this article. We want to share what you have to say!

*(The author’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor.)