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09

Poloz Sounds Alarm on Toronto and Vancouver Housing Risks

By Tony Seruga

Bank of Canada warns strong price gains can’t be sustained
Household risk ‘finally coming home to roost,’ economist says

Bank of Canada Governor Stephen Poloz gave one of his bluntest warnings to date about the country’s housing boom, saying Vancouver and Toronto buyers should realize strong price gains probably can’t be sustained by economic fundamentals.

“This suggests that prospective homebuyers and their lenders should not extrapolate recent real estate performance into the future when contemplating a transaction,” Poloz said from Ottawa after publishing a semi-annual Financial System Review Thursday…

Poloz Sounds Alarm on Toronto and Vancouver Housing Risks

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