Vancouver house price bubble deflates 14th month in a row. Toronto matches 2017 peak. Calgary, Edmonton beaten up by oil bust. Quebec City flat for 6 years. Montreal, Ottawa hit new highs.
House prices in Toronto still below 2017 peak. Montreal, Ottawa hit new highs. Quebec City about flat with Jun 2013. Edmonton back to Oct 2007. Calgary rises to March 2014 level.
But it’s curing a housing crisis where middle-class households are priced out of a market, inflated by rampant international speculation and large-scale money laundering, says BC’s Finance Minister.
Vancouver housing bubble sags. Toronto down 3.4% from peak. Calgary and Edmonton back to 2007. Montreal sets new record. National index ticks up the least for any May in 21 years of data.
“More than C$7 billion in dirty money was laundered in B.C. in 2018, hiking the cost of buying a home by about 5%, according to British Columbia’s Expert Panel on Money Laundering in Real Estate.”
