Canada's housing market falls deeper into correction with prices down 11.5% from peak

Play Video

The Bank of Canada has raised its benchmark overnight rate to 4.25 per cent this year from 0.25 per cent in March, a rapid rise in borrowing costs that has left many prospective buyers priced out of the market. With many sellers also waiting for a more opportune time to list, the market seems to be going into a deep freeze during Canada’s winter months.Article content

Economists are now predicting Canada will enter a shallow recession the first half of next year, even as the central bank says rates may need to rise even further to tame inflation. So whether more buyers or sellers emerge as the weather warms into the spring selling season will likely depend on how the economy develops between now and then.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Opinion: Ottawa’s war on the pharmaceutical industry is leaving Canada behindThe Patented Medicine Prices Review Board is doing more harm than good Corporate propaganda from corporate propagandists about our rigged economy dominated by psychotic multinationals and sociopathic CEOs. More corporate propaganda 🙄 legacy media isn’t even trying to hide its role as a marketing arm for big pharma anymore.. The industry deserves it.
Source: globeandmail - 🏆 5. / 92 Read more »