How once-booming Calgary is now becoming the drag on national home prices

Financial Post

TORONTO — Average home values across the country, long a beneficiary of rising prices in the so-called Big Three Canadian cities, will now feel the impact of one of the trio falling out of bed, says a new forecast.

[np_storybar title=”Deutsche Bank reveals 7 reasons why ‘Canada is in serious trouble’” link=”http://business.financialpost.com/2015/01/08/deutsche-bank-reveals-7-reasons-why-canada-is-in-serious-trouble-starting-with-a-63-overvalued-housing-market/”]Deutsche Bank’s chief international economist Torsten Sløk has circulated a chart deck looking at global housing markets, and Canada stands out as having quite a few problems.

According to the report, homes in Canada are 63 per cent overvalued, greater than the 50 per cent levels in Australia and Norway, Deutsche Bank AG said in a report Thursday. Keep reading.
[/np_storybar]

Royal LePage Real Estate Services said Wednesday that its forecast for 2015 is for 2.9% price growth across the country, but that increase is tempered by the impact of expected falling house prices in Alberta. The real estate…

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