IS THE HOUSING MARKET READY TO BOUNCE BACK????

Thursday Feb 08th, 2024

Share

Canadians shouldn't expect housing affordability to bounce back to pre-pandemic levels anytime soon. 

Desjardins principal economist Marc Desormeaux pointed out: “It’s important to highlight that while periods of softer economic activity do tend to result in weaker home price growth, they also mean poor income growth. Moreover, while we expect mortgage rates to come down from current levels over the next two years, they won’t likely reach the rock-bottom levels of the pandemic or the early 2010s

Desormeaux also highlighted a significant slowdown in residential construction activity, in large part due to labor shortages, dwindling homebuilder confidence, and the persistently high costs of interest rates and building.

There also is talk of a mild Recession!

Post a comment