Real Estate Bubble 2018
Wednesday Nov 21st, 2018
Real Estate Market in Two Canada Cities at High Risk
According to an article published in investment publication, “The Visual Capitalist,” a recent UBS Group AG Report Lists Toronto and Vancouver in the top three most likely cities to experience a real estate bubble burst. UBS is an international investment bank in Switzerland and one of the most respected banking institutions on the planet.
Here are the top five cities at the highest risk:
Annual price growth rates in some major cities have been negative (adjusted for inflation), and this is not a good sign. These cities include Toronto, London, Geneva, and New York. Vancouver is experiencing positive price growth of around 20 percent, so it is faring better from that aspect.
Oddly enough, UBS does not list any US cities in immediate danger. However, one must have concern for San Francisco with its 1.7 million price tag for the average home.
Hong Kong is a perfect example of real estate fueling financial woes. For example, ten years ago, you had to work for twelve years to afford an apartment (645 square feet). Today you must work ten years longer (22) to afford the same apartment.
Should you just sit around and wait for a real estate bubble to pop? Many experts say “no.” There is no way to tell what will happen, and prices could eventually go up even more. Here are some things to consider:
You can still get some good deals if you know where to look and choose your real estate agent carefully. An honest and trustworthy real estate professional has your needs at heart and works very hard to make sure you get the best home for the best price.
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