A new report from UBS shows that Toronto's real estate market is facing a moderate risk of a bubble, down from a high risk rating in 2023. While the city still sees elevated prices compared to income growth and rents, factors like slower economic growth and increasing inventories are preventing a rapid resurgence of a boom. Miami, however, tops the UBS index with a score of 1.79, indicating a high risk of a bubble due to significant price increases driven by wealthy newcomers.
That risk has faded over the past two years as inflation and higher interest rates contributed to a decline in home prices.
“Vancouver, Toronto and Amsterdam recorded significant prices declines of around 10 per cent in real terms,” it said.will fire up home price growth again in these cities, but “the ban on foreign buyers, rising inventories and a subdued economic outlook argue against a quick resurgence of the real estate boom.”For bubble risk, Canadian cities are in better shape than Miami, which tops the UBS index with a score of 1.79.
Job creation for the private sector in the first eight months of this year rose just 0.2 per cent, while the labour force grew by 2 per cent.Why CIBC thinks jumbo rate cuts are in the cards Michael Gove also ruled himself out of a future bid to become mayor of London and declined to endorse one of the four Tory party leadership hopefuls.We recently published a list of Top 10 Favorite AI Stocks of Brad Gerstner. Since Snowflake Inc. ranks 1st on the list, it deserves a deeper look. Brad Gerstner, the founder of Altimeter Capital, has been a major believer in AI and tech stocks in general.
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