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Housing correction coming: Sharp or slow?
The Canadian housing market is due for a correction, but it will likely be a slow decline rather than a sharp drop, says a report from the Canadian Imperial Bank of Commerce.
`While house prices are likely to adjust as interest rates eventually climb, the national pace of any correction is likely to be gradual,` Benjamin Tal, deputy chief economist at CIBC, said in a report released Thursday.
Still, Tal said the market will not crash abruptly because the two key triggers for a major drop are absent from the market.
Read the full article here.
The Canadian housing market is due for a correction, but it will likely be a slow decline rather than a sharp drop, says a report from the Canadian Imperial Bank of Commerce.
`While house prices are likely to adjust as interest rates eventually climb, the national pace of any correction is likely to be gradual,` Benjamin Tal, deputy chief economist at CIBC, said in a report released Thursday.
Still, Tal said the market will not crash abruptly because the two key triggers for a major drop are absent from the market.
Read the full article here.