Real risk to housing market is "constrained liquidity"

Toronto Star

Canadian's ability to weather a downturn in the housing market is much lower now than in the past because of their "constrained liquidity," says the president of the Canada Mortgage and Housing Corporation.  With some 48 per cent of Canadians' net worth tied up in real estate, and some of it overvalued in key markets, homeowners could find themselves in a real financial bind if "external risks," such as deflation now hitting parts of Europe, were to lead to job losses here, says Evan Siddall, president of the CMHC.

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Michael James

Michael James

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CENTURY 21 Capital Realty Inc., Brokerage*
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