Canadian dollar bears love to point to the real estate market. It’s overvalued by any measure but guessing when a bubble will pop darn-near impossible.
For instance, Vancouver’s real estate board reported existing home sales up 40% y/y in July and prices are up 2.3% in the last six months.
Meanwhile, in there is a report today that Toronto high-end condo inventory for sale is extremely high and there are no buyers.