Fears of a Toronto real-estate bubble are overblown, says the chief economist at Central 1 Credit Union, the financial facility and trade association for the British Columbia and Ontario credit union systems. Helmut Pastrick believes "economic and population growth, growing consumer confidence, and generally low mortgage rates will keep the market moving ahead." He estimates Toronto-area prices could rise 60%-95% by 2036 as housing demand expands in the wake of land-supply constraints. External factors remain a concern, he notes, as continuing turmoil in Europe could lead to a global recession.
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