Canada's Housing Bubbles: Will They Burst Now, or After the Election

How do they measure up against the most splendid housing bubbles in the USA? Oops!
Wolfstreet, April 12, 2019: In Greater Vancouver, BC, Canada, house prices fell 0.5% in March from February, the eighth month in a row of declines, according to the Teranet-National Bank House Price Index released this morning. It was the sharpest eight-month decline since February 2013. The index is now down 4.3% from the peak in July 2018. And it’s down 2.1% compared to March last year.

This housing market had been on an extraordinary ride: From January 2002 to the peak in July 2018, the index skyrocketed 316% — meaning that prices more than quadrupled. And some of those gains are now unwinding:

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