Canada's housing market is in a period of declining house prices due do painfully low affordability. According to Moody’s Analytics, Canada is only halfway through the housing correction.
Canadian property markets nearing tipping point
Limited supply is driving up Canadian real estate prices, since demand is at historic lows due to high mortgage rates it is too soon to call this the beginning of a bull market.
How soon will lower mortgage rates boost housing demand?
Lower interest rates can make it easier for people to buy a home.
The Bank of Canada Shouldn't Reduce Rates to Protect Banks
Don’t use quantitative easing (QE), to protect banks against their poor business decisions.
Why mortgage defaults don't help predict a housing correction
Mortgage delinquencies and defaults are terrible predictors of housing market corrections.
Rates show signs of moderating in late 2023 or 2024
The Canadian economy is showing early signs of a recession in 2023. Headwinds from aggressive central bank interest rate hikes are gaining strength, and the housing market has already seen a sharp decline since spring.
Is consumer confidence a good predictor of economic performance?
Consumer confidence is a valuable tool for predicting economic growth but a poor predictor of home values.
Will Canadian house prices go down in 2023
As we look towards 2023, it is vital for Canadians to be aware of the potential risks in real estate and to take steps to protect themselves and their investments.