, bringing the Bank of Canada rate from its current 4.5% to 3.75%. This is predicated on inflation coming down, he said.“It sounds aggressive, but it’s just a mathematical thing because prices ran up so much last year and we’re not seeing month-to-month inflation now.
“We believe the same thing, that Q4 this year will see, I predict, a half point less than we are today, at 4%. If not by Q4 then certainly a year from now, Q1 2024,” said Ash.Berlin’s prediction is only part of his annual report, which includes less happy news for his industry, such as a predicted 13,000 presale transaction count for 2023 — a small drop from 2022 and a massive drop from 2021, when there’d been 26,000 condo presales.
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