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Just how big is the Canadian housing bubble?

Estimates of Canadian housing over valuations by CIBC
 
You’ve no doubt heard a lot about a Canadian housing bubble. The national media has featured storieson it every week for months. Of course, the big question on everyone’s mind is, “Just how overvalued are Canadian homes?”


CIBC economists throw out some pretty precise figures in their “Economic Insights” report released today titled, “Ottawa Should Stay the Course” suggesting that growth in the Canadian economy will fall fairly flat through 2011 and that now is not the time for the federal government to be making major monetary policy changes.


According to CIBC, the typical Canadian home is 11.8% overvalued. British Columbia is the worst off overshooting fair market values by 16.8%. Atlantic Canada is the least overvalued with prices that are out of their fair value range by just 5.9%. Saskatchewan sits just below the national average with housing prices that are 11.3% above fair market value.


Who knew?


Read the entire CIBC report here.


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Norm Fisher
Royal LePage Vidorra

Norm Fisher, Author of the TeamFisher Saskatoon Real Estate Blog

About Norm

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 650 consecutive weeks which may make him the most consistent industry blogger in the world.Less...

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 650 consecutive weeks which may make him the most consistent industry blogger in the world.

Norm is known for his passion for technology and can most often be found exploring and experimenting with the next big thing in real estate marketing. He was the first Saskatoon real estate agent to promote a home online and has been an early adopter of new technologies ever since. “Everything about this business has changed over the past 20 years, and it will happen again in the next ten. An open mind and a curious attitude are all that’s needed to continue to find new ways to serve our clients by delivering a faster, smoother, worry-free transaction,” says Norm.

In his spare time, Norm enjoys Crossfit and cycling, some years accumulating over 2,000 kilometres on the road. He’s a strong supporter of the Royal LePage Shelter Foundation and enjoys raising funds by joining fun, fitness-related initiatives like the Grouse Grind for Shelter. In 2015, he trekked the Peruvian Andes to Machu Picchu. In 2017 he walked the southern highlands of Iceland across mountains, sand, snow, ice, lava fields and forest for seven days. Collectively those initiatives raised over a million dollars for Canadian women's shelters.
 

Note: We are in the process of bringing this blog home to the TeamFisher.com domain and we have a lot of stuff to move! Another 700 posts can be found at normfisher.com where they'll remain until we can get them moved here.

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