Global home prices are on the rise, and Canada is leading the pack. Numbers from the International Monetary Fund (IMF), the monetary policy arm of the UN, show that Canada ranks amongst the top ten of all of their housing indicators. While that sounds like a good thing, the IMF generally warns that too much growth means overvaluation. Overvaluation requires a correction, and if it goes too high, even a crash.
The global real home price index continued to rise, almost hitting it’s all-time high. Inflation adjusted home prices across the globe ended the fourth quarter of 2016 at 155.72. This represents a 1.77% increase from the same time one year before. The index is now just 2.13% below the all-time high established in the first quarter of 2008. While that can be read as frothy global home prices, the climb was much slower this time around. This could mean more …
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