Michael Kinar

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In the Bank of Canada’s economic outlook on Wednesday it reiterated its concern about the housing market, saying that it still expected a soft landing for most regions.

However, as the bank confirmed that interest rates were holding steady at 0.75 per cent, it sounded a warning about corrections in some markets.

Alberta’s oil industry downturn is a factor for concern, but so is the growth of prices in Toronto and Vancouver.

The BoC noted that if there was to be a correction in prices in those markets it shouldn’t spill over into other regions, but that it would be “a major event” if it did. 

 

Source: http://www.canadianrealestatemagazine.ca/news/boc-talks-about-corrections-in-some-housing-markets-190368.aspx

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