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Industry Lashes Out At CMHC’s ‘Panic-Inducing’ House Price Forecast

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“Sellers simply won’t accept that kind of discount on their listings. A statement of this nature is panic-inducing and irresponsible.'

nationally this year, noted that other experts aren’t forecasting such large drops, with most forecasts calling for a short-term decline of 5 to 10 per cent.Capital Economics’ Brown forecast earlier this month that the Teranet house price index would fall 5 per cent, but wouldBut the CMHC’s forecast may have changed the situation, Brown argued.

“With the CMHC’s alarming forecasts covered by all the major news outlets this week, some Canadians have probably become far more concerned about prospects for the housing market.” That came even as Canadians’ confidence in other parts of the economy began to rebound. The overall consumer confidence index rose to 39.32 from around 37 four weeks earlier. However, that is still close to the worst level in records going back to 2008, worse than at any point during the financial crisis a decade ago.The Bloomberg/Nanos index of Canadian consumer confidence has been recording its lowest levels ever amid the COVID-19 pandemic.

 

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Yes, much better to just bury our heads in the sand.

Ask this fuck his motivation for making this statement. When he tells you ‘prices are going down nows the time to buy’ it’s more money in CMHC fees. Are those going to go down? Get the picture?

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