Canada housing bubble inflates further

May 12, 2017 11:08 AM ETHome Capital Group Inc. (HMCBF)HMCBFBy: Stephen Alpher, SA News Editor85 Comments
  • The Teranet-National Bank Composite House Price Index - which measures repeat sales of single-family homes - rose another 1.2% in April, including a whopping 2.6% in Toronto.
  • With April's gain, home prices in Toronto are now up 26.3% Y/Y; in nearby Hamilton, they're higher by 22.9%.
  • In Vancouver, where the local government has taken steps to cool things, prices were lower by 0.1%.
  • Meanwhile, mortgage lender Home Capital Group (OTCPK:HMCBF) is down more than 10% as it warns on funding.
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