Canadian real estate highly vulnerable thanks to price hikes, overvaluations: CMHC – National

Canada Mortgage and Housing Corp. says the country’s housing sector has moved from a reasonable to excessive diploma of vulnerability.

The federal housing company attributed the escalation in vulnerability to cost acceleration and overvaluations throughout the nation.

CMHC says the excessive vulnerability is essentially a mirrored image of intensified and protracted imbalances in a number of native housing markets throughout Ontario and japanese Canada.

CMHC says Toronto, Hamilton, Ottawa, Montreal, Moncton and Halifax all have excessive levels of vulnerability.

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Canadian housing costs hit report 12-month excessive in June.

Victoria, Edmonton and Calgary are rated as having a reasonable diploma of vulnerability.

Vancouver, Saskatoon, Regina, Winnipeg and Quebec have low levels of vulnerability.