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Canadian homes among most overvalued in the world
OECD report ranks Canadian real estate 3rd-most overvalued among developed countries
CBC News
Posted: Jun 5, 2013 1:01 PM ET Last Updated: Jun 5, 2013 1:26 PM ET
The Organization for Economic Co-operation and Development ranks Canadian real estate the third most overvalued of the 34 developed countries assessed by the group, based on two metrics tracking what homes cost compared to incomes and rents.
Based on rents, Canadian real estate is overvalued by as much as 60 per cent, the OECD says. In terms of prices to incomes, Canada fares a little bit better, but the OECD suggests the country's real estate is still as much as 30 per cent overvalued.
http://www.cbc.ca/news/business/story/2013/06/05/business-oecd-housing.html
OECD report ranks Canadian real estate 3rd-most overvalued among developed countries
CBC News
Posted: Jun 5, 2013 1:01 PM ET Last Updated: Jun 5, 2013 1:26 PM ET
The Organization for Economic Co-operation and Development ranks Canadian real estate the third most overvalued of the 34 developed countries assessed by the group, based on two metrics tracking what homes cost compared to incomes and rents.
Based on rents, Canadian real estate is overvalued by as much as 60 per cent, the OECD says. In terms of prices to incomes, Canada fares a little bit better, but the OECD suggests the country's real estate is still as much as 30 per cent overvalued.
http://www.cbc.ca/news/business/story/2013/06/05/business-oecd-housing.html