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Douglas Porter

Douglas Porter

Chief Economist at BMO

August 23rd, 2017

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.

Yes Doug, that's how bubbles work.

This banker couldn't keep the story straight for 3 days or was seriously misquoted in this article!

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