Dave McKay, CEO of RBC, sees a dangerous mix of ultra-low rates, lack of supply of single family homes, speculation, and foreign money coming into Toronto at increasing rates. This has happened since Vancouver dampened its market with a foreign buyers’ tax. He believes that similar measures are needed in Toronto.
This year’s housing prices increased by over 20%. This is both concerning and not sustainable.
Read full article: https://business.financialpost.com/news/fp-street/rbc-boost-dividend-after-24-profit-growth-to-3-billion-beats-expectations
