Conference Board: Housing market crash unlikely
The Conference Board isn’t buying the notion that Canada’s housing market will suddenly crumble, saying the most likely outlook is for a modest decline nationally and in some specific markets. The Ottawa-based think-tank argues in a comprehensive new look at real estate in Canada that the conditions for a crash simply don’t exist, despite numerous reports that the market is overbuilt and overvalued. Rather, the report argues that with the possible exception of Toronto, housing starts the past three years have been roughly in line with the 20-year average. Even in Toronto, there is only a “borderline” case that it could be overbuilt.
Full article – http://tinyurl.com/n2uf6mq
Source: Halifax Chronicle, CREA March 24, 2014