High prices getting even higher in places like Toronto, Vancouver, Victoria and Hamilton are making Canada's national housing market "highly vulnerable," the CMHC said Thursday. Four times a year, the national housing agency looks at housing in the 15 largest markets in the country, and judges them on four criteria:Overheating: Sales significantly outpace new listings. The CMHC then rates each city and each category on a colour-coded system, whereby green means there's little evidence of a problem, yellow means there's some signs of a problem, and red means there's definitely reason for concern. Overvaluation in Toronto, Hamilton, Vancouver and Victoria is enough to make the national housing picture look vulnerable, the CMHC warned. (Pete Evans/CBC)There's "a high degree of vulnerability at the overall national level due to moderate levels of price acceleration and overvaluation," chief economist Bob Dugan said.

Source: CBC News April 26, 2018 16:52 UTC