A new UBS report confirms Canada’s two largest cities–Toronto and Vancouver–as being two of the four most egregiously-valued realty markets in the world and making them at risk of price collapse. Naturally, these are the same two cities with the largest Canadian mortgage balances outstanding as well. See: These are the world’s biggest property bubbles as ranked by UBS. Here is their chart.
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Cory’s Chart Corner
Many will focus the blame of market drawdowns on the tariffs and ignore the fact the SP500 (only a few weeks ago) was trading at 4 std devs above its historical mean…valuation also matters.
The Kobeissi Letter @KobeissiLetterBREAKING: The European Union is preparing further counter measures against newly announced US tariffs of 20%, per CNBC.
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