|Toronto Harbourfront Condos Sale/Rent|
Canada's Federal Housing Agency Warns About Vancouver Soaring Home Prices.
Vancouver's Housing Market due to higher average prices is outstripping economic fundamentals in the region.
The single-detached average Home prices are now at levels much higher than can be supported by economic, demographic and financial fundamentals.
The average income Vancouver Home buyer can just not afford a Home and now must turn to Condos as an alternate or move to the suburbs for some financial relief.
The Canadian Mortgage and Housing Corporation notes that demand for Homes remains very strong but inventories of both new and resale Vancouver Homes have been declining resulting in higher prices.
Vancouver Home sales hit an all-time record in March, soaring 56% above the ten year average.
In Toronto the Canadian Mortgage and Housing Corporation pointed to the growing price gap between single-family Toronto Homes and Condos.
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