The international prognostication industry has recently turned its attention to the Canadian housing market. It does not like what it sees.
Read more: http://tinyurl.com/l8j52mj
The international prognostication industry has recently turned its attention to the Canadian housing market. It does not like what it sees.
Read more: http://tinyurl.com/l8j52mj
Some people are predicting a crash in the Canadian housing market because price-to-income and price-to-rent ratios have gone up a lot. But these ratios omit mortgage rates, a key determinant of prices. A better guide, in my view, is the housing affordability index published by Royal Bank of Canada (RBC).
Read more: http://tinyurl.com/aw5nzob
While many concerns stem from the Canadian housing market, it will not see an American-style crash, a new Canadian Imperial Bank of Commerce report says.
House prices will likely fall north of the border in the next year or two, but a number of factors are likely to mitigate the impact on borrowers and the broader economy here, it suggests. It forecasts that the Canadian market will likely go through a soft landing, which is exactly what policy makers in Ottawa are hoping.
Read more: http://tinyurl.com/9nrv6zr
Canada’s housing market is faltering just as the U.S. market roars back to life.
This sudden reversal of the narrative that has prevailed since the U.S. housing bust in 2006 is about to make Mark Carney’s interest rate juggling act much trickier.
Read more: http://tinyurl.com/8shh6ho