”Canada’s housing agency has cut its national home price forecast for this year and next, saying that interest rates were rising faster than it anticipated – but the agency is not predicting a sharp correction because it said a housing shortage will support prices.”
”Although home prices have plummeted since the central bank started raising interest rates in March, CMHC chief economist Bob Dugan said he was “leery” of forecasting a steeper price decline when the housing shortage is so severe.”
To read the full article follow the links to ”CMHC revises down home price forecast over next two years to adjust for interest rate spike” published on the Globe and Mail website written by RACHELLE YOUNGLAI
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