A Swiss bank has concluded that Toronto's housing market is in
bubble territory, as homes in the city are more overpriced based on
local rents and incomes than in places like New York, San Francisco,
London and Hong Kong.
In an annual ranking, UBS looks at 25
major cities in Europe, North America, the Middle East and Asia to track
and compare the risk of housing bubbles at the local level in each of
them, and it then assigns them a number based on that ranking.
A
score above 1.5 indicates the bank thinks there's a risk of a bubble,
which UBS defines as "a substantial and sustained mispricing of an
asset, the existence of which cannot be proved unless it bursts."
Read more at: Swiss bank UBS says Toronto has 3rd biggest housing bubble in the world | CBC News
