That list of fretting policy makers, regulators, and other organizations now includes: The IMF (January 2015), the Bank of Canada (most recently in June 2016), the Canada Mortgage and Housing Corporation (CMHC), which found "strong evidence of problematic conditions," and the Office of the Superintendent of Financial Institutions (July 2016), which said that it would require smaller banks to stress test their mortgage portfolios to ensure they could withstand a drop in Vancouver home prices of 50%. British Columbia's 's housing bubble began to show the first signs of trouble in the first half of August . While apartment prices rose 27% year-on-year and detached house prices 19% , total sales fell 19% . On 2 August , British Columbia's 15% transfer tax on homes involving foreign investors came into effect, with data for the first half of August showing sales dropped 51% year-on-year, with detached home sales down 66% . The trend has increased speculation that a Chinese housing crash has begun, with the Bloomberg Nanos Canadian Confidence Index reporting that the percentage of respondents expecting a decline in house prices has increased from 66% .
British Columbia's 's housing bubble began to show the first signs of trouble in the first half of August . While apartment prices rose 27% year-on-year and detached house prices 19% , total sales fell 19% . On 2 August , British Columbia's 15% transfer tax on homes involving foreign investors came into effect, with data for the first half of August showing sales dropped 51% year-on-year, with detached home sales down 66% . The trend has increased speculation that a Chinese housing crash has begun, with the Bloomberg Nanos Canadian Confidence Index reporting that the percentage of respondents expecting a decline in house prices has increased from 66% .