Canada risks housing-related recession if interest rate hikes get too aggressive

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ICYMI: Canada risks housing-related recession if interest rate hikes get too aggressive – via financialpost RealEstate Economy

, 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.

 

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financialpost Nope

financialpost Interest rates going to double digits. Invest accordingly.

financialpost House prices went up at least 30% in the last 2 years in the Vancouver area - they should go down by the same percentage!

financialpost Written by a real estate agent….

financialpost Good. This is what happens when the public is coerced by “economists” who are greedy pigs. You all HELOC’ed into this mess. Made the bed now lay in it.

financialpost Where have you been....1970?

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Housing prices in Canada could fall 15 per cent by Dec. 2023 after Bank of Canada rate hikes: reportAs the Bank of Canada continues to hike rates in order to curb inflation, housing prices in Canada could fall 15 per cent from its peak by the end of next year, a new report from Desjardins says. Not enough… Anyone that bought a house past 2 years will have a hard time renewing their mortgage when the value of house drops lower than what they owe its already down 15% form its highs in many places!
Source: CTVNews - 🏆 1. / 99 Read more »