Canadian Housing Bubble Risk Exaggerated, Report Says

While there are legitimate concerns about housing markets in the US, Britain and Australia, Canada's housing market is on a "solid foundation."
April 29, 2005, 6am PDT | Michael Dudley
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"Although there is little evidence of a housing bubble in Canada, concern about the prospects for Canada’s real estate market abounds. But in a topic paper entitled Bursting Aspects of the Housing Bubble Myth, TD economists show that four of these specific fears are largely exaggerated. The report is available at 'Canada’s red-hot housing
market is on a solid foundation because there is very little evidence of speculative activity,' remarked Carl Gomez, economist with TD Bank Financial Group. “'But while a modest cooling is in the cards this year and next, there are a number of misconceptions about the state of this
housing market and where it’s going.'”

Thanks to Michael Dudley

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Published on Thursday, April 28, 2005 in TD Economics
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