Posthaste: The way the housing market is stalling, the Bank of Canada may have to hit the brakes sooner than expected

The numbers are in and, as one economist puts it, April was the cruellest month for the housing market.

Aside from Calgary and Edmonton, home sales in other major Canadian markets have sunk below their pre-pandemic levels, says Capital Economics. “April proved to be the cruellest month for the housing market, with the recent jump in mortgage rates causing large falls in sales across the country,” wrote Capital’s senior Canada economist Stephen Brown.

financialpost Killing the housing market is not helping people!! If house prices drop and mortgages go up, it's producing the exact same result! Only banks and the government wins.......as usual

financialpost Silly read Rate policy doesnt revolve around housing and will go where it needs to go Housing became irrationally exuberant because of rates See the difference? First sign of weakness and already a whine

financialpost But they’re driving blind. Think of Stevie Wonder driving our economic bus.

financialpost It's too late to hit the break they allowed trudeau to spend too much, we are at the brace for impact period

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Posthaste: The way the housing market is stalling, the Bank of Canada may have to hit the brakes sooner than expectedThe way the housing market is stalling, the Bank of Canada may have to hit the brakes sooner than expected — via financialpost housingmarket mortgagerates financialpost The have to find the steering wheel first.... financialpost Can’t have homes become affordable again, that’s bad for business. financialpost Zero chance of this happening, more paid nonsense by the real estate industry
Source: nationalpost - 🏆 10. / 80 Read more »

Posthaste: The way the housing market is stalling, the Bank of Canada may have to hit the brakes sooner than expectedFor the first time since 2010, five\u002Dyear fixed mortgage rates are all above 4% Someone is sure pushing this agenda in the National Post How is this a bad thing?...Runaway real estate prices and inflation are ruining our economy as well as people's dreams of owning a home...Only people that disagree are agents, investors and wall street. We need some balance back..... Who does these types of articles benefit?🤔
Source: nationalpost - 🏆 10. / 80 Read more »