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Canada's housing market headed for 'historic correction,' says RBC

Financial Post: 'RBC now expects home sales to fall nearly 23% this year and 15% next year, and national benchmark prices to drop more than 12% from peak to trough by the second quarter of 2023.

'The 42% drop in home sales from the peak in early 2021 will exceed the declines seen in the past four national downturns, Hogue said. In 1981-82 and again in 1989-1990 sales fell 33%; they fell 38% in 2008-09 and 20% in 2016-2018.'

Pierre Poilievre should prohibit Blackstone / Blackrock from buying up all the property. The gerontocracy should be allowed to fail & the boomers ought to have the bottom fall out from under them.

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Larry Martin
Larry Martin
Nov 15, 2023

I think this drop was 42% so the property dealers needs to avoid in buying or selling the property during this time to avoid the more fall out.

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Citation Moving Marvels
Citation Moving Marvels
Oct 26, 2023

House prices have been rising steadily for the past five years, but RBC warns that this trend may be coming to an end. Such as oversupply of housing, rising interest rates.

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