File photo Advocate staff

Canada’s housing industry is still highly vulnerable to market instability: CMHC

TORONTO — For the seventh straight quarter, the Canada Mortgage and Housing Corporation says the country is facing a high degree of vulnerability to market instability.

The Crown corporation says Toronto, Hamilton, Vancouver and Victoria are of the most concern because of overvaluation and increasing home prices in the areas.

Winnipeg, Ottawa, Quebec City, Moncton, Halifax and St. John’s are faring much better, with the corporation giving their housing markets a low vulnerability ranking.

Montreal also landed a low vulnerability ranking, but CMHC warned it might have to revise that assessment, given the rapid growth of house prices in some neighbourhoods.

CMHC ranked Calgary, Edmonton, Saskatoon and Regina as having moderate vulnerability because of overbuilding in those markets.

To make its quarterly assessment, CMHC says it analyzed the overheating of markets, the acceleration of home prices, overvaluations and overbuilding.

Just Posted

Red Deer’s Craig Schmitt placed first once again at Woody’s Marathon

When Craig Schmitt runs in the annual Woody’s RV Marathon in Red… Continue reading

Life and death: Mistake sent one family to funeral home, the other to hospital

Doctors told Jody Littlewolf that her daughter was brain dead and should… Continue reading

‘Still beautiful:’ Waterton Lakes National Park prepares for life after fire

WATERTON, Alta. — Parks Canada officials and businesses in Waterton say there… Continue reading

British royal family thanks those who celebrated wedding

LONDON — The royal family, blessed with fantastic weather and a buoyant… Continue reading

Cougar kills 1 mountain biker, injures 2nd near Seattle

NORTH BEND, Wash. — Two friends on a morning mountain bike ride… Continue reading

Red Deer Silhouettes prepare for year-end show

Synchronized swimming team will perform its last show this season May 30

One dead in collision west of Sundre

A 30-year-old Cochrane resident is dead after a single vehicle collision in… Continue reading

How a 94-year-old retiree became a gym rat

ST. JOHN’S, N.L. — Like many gym rats, Paul Russell lifts weights… Continue reading

‘Like a warzone:’ People evacuated as fires burn through Manitoba city’s downtown

BRANDON, Man. — Leanne Marlow saw the flames engulf the building across… Continue reading

Canadians celebrate mix of pageantry, modern twists in royal wedding

As the freshly minted Duke and Duchess of Sussex embark on married… Continue reading

Maduro favoured as Venezuelans vote amid crisis

CARACAS, Venezuela — Venezuelan President Nicolas Maduro is expected to win a… Continue reading

Family, friends recall shooting victims’ optimism, humour

SANTA FE, Texas — Hardworking. Funny. Loving. Grieving family and friends recalled… Continue reading

Record Everest climber returns, already planning next trip

KATHMANDU, Nepal — A veteran Sherpa guide who scaled Mount Everest for… Continue reading

WATCH: First Red Deer Market of the year

Hundreds came out to the first farmers market of 2018 Saturday

Most Read


Five-day delivery plus unlimited digital access for $185 for 260 issues (must live in delivery area to qualify) Unlimited Digital Access 99 cents for the first four weeks and then only $15 per month Five-day delivery plus unlimited digital access for $15 a month