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Historic correction underway in Canada, but there won’t be a crash

Location
Vancouver, Toronto, Calgary
Publish Date
2022/07/29

The BOC is currently started a more aggressive course that is believed to take its policy interest rate to restrictive levels by the fall. More buyers will be sent to the sidelines, especially in British Columbia and Ontario, where affordability is extremely stretched.The downturn is expected to deepen in the coming months, with both resale activity and home prices reaching lower levels than previously anticipated.Home resales are forecast to ↓ ~23% in 2022 and ↓ 15% in 2023 in Canada.

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Canada, Ottawa, Vancouver Island, Edmonton, Kelowna, Saskatchewan