Real estate in Vancouver and Toronto no longer in bubble risk territory

The UBS Global Real Estate Bubble Index report has revealed that real estate in Canadian metros Vancouver and Toronto have moved out of the bubble risk category and into the "overvalued" category due to increasing financing costs and higher mortgage stress test rates leading to prices dropping by more than 10% in inflation-adjusted terms since mid-2022. Additionally, Statistics Canada has found that Canada's high housing costs and cost of living crisis may be causing the country's fertility rate to drop.