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That's a bit misleading, by no means was/is the bubble limited to these cities. More like B.C and Ontario.
by NathanCH 9y ago
That's a bit misleading, by no means was/is the bubble limited to these cities. More like B.C and Ontario.
- randomdata 9y agoThat may be an exaggeration as well. As a resident of Southern Ontario, but not Toronto, the CREA data shows that home prices in my area were stagnant, to slight decline, for most of the last decade. It has only been in the last year that any meaningful price appreciation has been observed. And I attribute the recent price appreciation to an improving economy and near record low unemployment (currently 2.9%).
- crescentfresh 9y agoAlso as a resident of Southern Ontario, but not Toronto, I concur.
- dblohm7 9y agoAnd regardless of the scope of the bubble, even if we conceded that it is all of BC and ON, the fact remains that the Bank of Canada has to act in the best interests (ha) of the country as a whole.