Downtown Vancouver Condos At Dusk
Top executives from Canada’s banks are concerned about a downturn in the domestic housing market with Condos in Toronto and Vancouver most vulnerable.
Low interest rates have fuelled a housing boom in both cities with housing starts climbing at a higher rate than was expected.
These banks are noticing high consumer debt levels and a lot of housing capacity in the way of new Condominiums for sale.
That being said, all of these banks are very good in lending out money that actually helped fuel these so-called hot markets. Very few purchasers are buying new Condos in Vancouver or Toronto with cash.
These same banks are also financing the new Condo developments with guarantees from the builders so almost all of the new Condos on the market are pre-sold with financing already in place.
New and Resale Toronto Downtown Condos for sale or rent.
