Well the blogosphere and news stations lit up in January
after a controversial sort of Canadian Housing Market report was released by
Deutsche Bank. Just about every single publication has written on the subject,
from Mortgage Broker News to CTV News to the Financial Post.
What’s all the controversy about? Well, according to CTV’s reporting the top international
economist Torsten Sløk of Deutsche Bank has publicly announced the belief that:
·
The Canadian housing market is the most
overvalued in the world
·
Homes are overvalued by 63%
·
Canada’s household debt is over 150% of
disposable income
·
Canadian housing starts are slowing
In the Financial Post
article on the topic, the Post includes 7 charts circulated by Sløk to support the position that the
Canadian housing market may be headed for trouble.
The January report echoes a report released in the Huffington Post this past September
regarding an Economist article that
claimed the Canadian housing market is the world’s most overvalued – their
estimate? 25%. http://www.huffingtonpost.ca/2014/09/04/canada-real-estate-overvalued-economist_n_5762286.html
Here are some articles on the topic. We are interested in
hearing your point of view.
Financial
Post Article (includes the 7 charts) http://business.financialpost.com/2015/01/08/deutsche-bank-reveals-7-reasons-why-canada-is-in-serious-trouble-starting-with-a-63-overvalued-housing-market/
CTV
News Article http://www.ctvnews.ca/business/canadian-housing-market-overvalued-63-per-cent-deutsche-bank-1.2180763#ixzz3QmJDPrZ5
Mortgage Broker News Article http://www.mortgagebrokernews.ca/news/canadas-housing-is-63-per-cent-overvalued-says-deutsche-bank-187026.aspx
Huffington
Post Blog and Video http://www.mortgagebrokernews.ca/news/canadas-housing-is-63-per-cent-overvalued-says-deutsche-bank-187026.aspx
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