16 Nov Canadians appear to have dodged that housing crash everybody’s been so afraid of for 10 years.
Original article via Financial Post. Click here to read.
Canada’s once-lofty housing market is achieving a best-case soft landing for policy makers trying to cool things down without triggering a collapse.
The latest string of data indicates the market is experiencing only a modest adjustment in prices in the face of higher interest rates and tougher regulations brought in to tackle a boom that saw values more than double in Toronto and Vancouver since 2009.
It’s a Goldilocks scenario that reduces risk in what had become the economy’s main vulnerability — an impressive achievement only a year after the country suffered a crisis of investor confidence because of debt and housing worries.