The bank's annual Global Housing Bubble Index has ranked Toronto and Vancouver third and fourth, respectively, in a survey of housing bubble indicators. Only Hong Kong and Munich are ranked as having bigger housing bubble risks. UBS"Price bubbles are a regularly recurring phenomenon in property markets," the UBS report stated. Major cities profited from the growing importance of the digital economy and the wider trend toward urbanization. Most such downdrafts in the past 40 years have been preceded by an increase in rates," UBS noted.

Source: Huffington Post September 29, 2018 15:11 UTC