June 23, 2008
The real estate market appears poised for a soft landing rather than a crash, in a cooling trend the Bank of Canada says is both "expected and welcome."
Sheryl Kennedy, the central bank's deputy governor, said Canada's financial prudence has helped it sidestep the sharp home price declines being experienced in countries including the U.S., Britain and Spain.
"The Canadian housin ...
New housing prices rose by 6.2 per cent from December 2006 to December 2007, mainly due to a strong housing market in the Prairie provinces.
That was a slightly faster pace than the year-over-year increase of 6.1 per cent in November, Statistics Canada reported Monday.
On a monthly basis, prices rose 0.1 per cent between November and December.
Regionally, prices climbed at the fastest rate in ...
Canadian investors and homeowners worried about a meltdown in the real estate market here in Canada can relax.
The subprime mortgage crisis in the U.S. isn't like to happen up here in the cooler, more fiscally conservative north. The Canadian housing market is not a bubble waiting to burst and owning a home is still a good investment and wealth management strategy, financial experts believe. ...
