National home price decline is only halfway there, and could plunge more than 30 per cent from the peak by the middle of 2023, according to a report from Oxford Economics.
Canadian home prices still have further to fall this year as the real estate market takes a nosedive in the wake of the pandemic.
“We see a moderate downturn being possible, with defaults and insolvencies rising a little, but not drastically,” said Tony Stillo, director of Canada Economics at Oxford Economics. “We have seen a downturn in real estate with construction and consumers pulling back, but if we continue with this job growth that will temper the decline,” he said.
While job numbers are looking positive, the housing sector is leading the economy into a recession, he added.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
30 “Cheats” That Took These People’s Cooking Game To A Whole New LevelDon't cook hard. Cook smart. Like these fine gents and gentesses did in now-viral Reddit threads.
Read more »
IFAF approves Canadian rules in competitions, use of the Canadian rulebookInternational Federation of American Football approves Canadian rules and use of rulebook
Read more »
Village brand cheddar cheese recalled from Canadian markets after reports of illness - National | Globalnews.caThe CFIA has issued a recall for Le Fromage au Village brand le Cru du Clocher raw milk cheddar cheese due to Listeria monocytogenes.
Read more »
Weekend ‘anomaly’ over Montana first detected in Canadian airspace: Norad commander | National NewswatchNational Newswatch: Canada's most comprehensive site for political news and views. Make it a daily habit.
Read more »
30 Teachers Reveal The Wildest Reasons They’ve Sent A Student To The Principal’s OfficeMany movies and TV shows about school life aren’t able to hold a candle to the real-life situations teachers have to deal with nearly every single day.
Read more »