A Canadian flag flies amid the Toronto skyline
Roberto Machado Noa | Getty Images
Despite a global recession brought on by the coronavirus pandemic, home values in major markets around the world continue to rise, with some at risk of overheating.
Of 25 major cities analyzed, more than half are either at risk of a housing bubble or are overvalued, according to UBS’ Global Real Estate Bubble Index 2020. The index looked at typical signs of a bubble, which include a decoupling of prices from local incomes and rents, and imbalances in the real economy, such as excessive lending and construction activity.
Toronto is the only major North American city in the study that was found to be at risk of…