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Canada’s next housing bubble: real estate agents

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The housing boom has not only resulted in record real estate prices, it has spawned an unprecedented number of realtors. The number of people selling real estate reached 108,706 during the first quarter of the year, according to the Canadian Real Estate Association. To put it another way, thats one realtor for every 245 Canadians over the age of 19. Canadas million-dollar housing markets: Look out Vancouver, Torontos moving in Toronto is on the verge of becoming the second Canadian city where the average price of a detached home hits the $1-million mark. <em>Keep reading. No where is the bubble in agents more apparent than Toronto, perhaps the hottest market in the country for property. The Toronto Real Estate Board wouldnt provide an exact number for its members but TREBs boiler plate statement this month said it had reached more than 39,000 or about one for every 140 people in the Greater Toronto Area. Just over a year ago in December, 2012, that number was 35,000. That number grew from...

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