no surprise!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Business

'This is a bubble. A very big bubble. And it is going to end in tears'

Business Insider 18 hours ago 

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The Canadian housing market just keeps getting hotter. Home prices in the Greater Vancouver area have surged 30% year-over-year in May, up from 15% at the end of 2015, according to the bank's June 2016 "Financial System Review." Meanwhile, prices in the Greater Toronto area are growing by 15% YoY, up from 10% half a year earlier. A statement from the Bank of Canada even warned that folks who want to buy homes in Vancouver or Toronto should probably recognize that prices are unlikely to further increase dramatically, given economic fundamentals. "Prospective homebuyers and their lenders should not extrapolate recent real estate performance into the future when contemplating a transaction," BoC ...

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