, senior Canada economist Stephen Brown noted the central bank seemed unfazed by a double-digit drop in home sales in May — the second consecutive such monthly drop — and that it was adopting an increasingly hawkish tone on inflation.
National home sales fell 12 per cent on a month-over-month basis in May, following a 14 per cent drop in April. While Brown suggested the declines would bring sales closer in-line to the pre-pandemic norm, the balancing of supply and demand gave him more reason for concern.Article content Home prices are already dropping, according to Capital Economics data, sliding 0.6 per cent month over month across the country. Toronto saw its prices fall even faster by over three per cent for the second month in a row in May.
financialpost Just rip the bandaid off already. Our economy has been propped up by our over inflated housing bubble for to long. Time for a correction.
financialpost bankofcanada stop
financialpost Since when has a correction been considered recessionary?
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