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Toronto is a growing danger to itself and the communites surrounding it. On the page there is video that corresponds with the article, a good watch. The pundit from the bank was saying the that crazy prices gains spreading as far as peterbrough and hamilton. Personally I think the bubble is in other major communties south of toronto which surround the 401 highway as far as london.
The pundit was saying that dont worry its in toronto and the surronding communities. What I will point that the greater toronto area has population of 6.4 million as of 2016. Thats almost 1 in 5 of all canadians, thats is significant.
What about ontario? 14 million
Thats 47% of people of ontario live in community that is experiencing a housing bubble and I think that is conservative.
I have been talking about the bubble for half a decade now. I do not know when the end will come but it with end with a ton of misery. Right toronto is growing at +20 % a year, can we reach 30% or 40% ? with a inflation rate at minus 2%. What can go wrong in this situation
Some argue that the bubble is in almost every urban area of Canada.