On October 26/16 CMHC news release. Most Canadian Housing Markets Overvalued, Price Growth to Slow Through 2018: CMHC Reports
OTTAWA, October 26, 2016 — Canada Mortgage and Housing Corporation (CMHC) is finding strong evidence of problematic conditions for Canada overall. Home prices have risen ahead of economic fundamentals such as personal disposable income and population growth, resulting in overvaluation in many Canadian housing markets. However, the combination of overvaluation and overbuilding should help slow the growth in resales and house prices and lead to a moderation in the pace of housing starts.
Toronto and Vancouver were flagged as RED.
Calgary was flagged as YELLOW.
Read the full article on the CMHC web site. More potential problems for Calgary’s already deflated real estate market.