The Toronto Real Estate Bubble Is So Big It Breaks The UBS Index

Toronto's real estate ranks 5th in the UBS 2024 Global Bubble Index, showing an "elevated" risk for a housing price bubble. Despite improvements in some areas, the risk remains high due to a disconnect between home prices and income. While national mortgage risk is low, Toronto sees rising delinquencies, especially among overleveraged investors. The construction bubble risk is low but doesn't reflect local challenges. Regulators should be concerned about the significant risks in Toronto's market.