|2017-08-23||Douglas Porter||Six months ago, Bank of Montreal chief economist Doug Porter said what many were thinking and declared that Toronto has a housing bubble.
Now, Porter has given that bubble its death certificate.
"This is a late bubble. Bereft of life, it rests in peace," he wrote in a client note last week.
To prove his point, Porter published a chart showing home sales in some regions in Toronto retracing all their gains of recent years.