Strong demand will keep housing market buoyant says economist poll

THINK OUTSIDE THE BOX: Measures designed to cool the housing market and the issues surrounding mortgage lender Home Capital will not damage the Canadian housing market according to a poll of economists.

Low interest rates and strong demand will keep the market buoyant, analysts polled by Reuters suggests but there could be one exception.

“Low interest rates are going to be oxygen that keeps the fire going in the Toronto and BC housing markets and that fire has spread to southern Ontario as well,” said Sal Guatieri, senior economist at BMO Capital Markets.

However, almost half of those polled believe a sharp correction in the Toronto market is likely but nationally it is unlikely.

by Steve Randall         29 May 2017

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