Cooling likely in market’s future
Amid stories of the Canadian housing market collapsing and the red-hot bubble bursting comes a special report from BMO Capital Markets, authored by economists Dr. Sherry Cooper and Sal Guartieri, which basically says “cool it.”
“Like any issue that is as broad and complex as housing, an analysis of both the pros and cons can provide valuable perspective. In our view, the housing boom will more likely cool than correct, even in condo-driven Toronto — the target of many scary headlines,” says the report.
“The possible exception is pricey Vancouver, where the number of unoccupied newly built condos is high, owing to the Olympic Village construction in 2010. But Montreal has more vacant condos than Vancouver and a much higher condo rental vacancy rate.”
Read more Source: Calgary Sun Author: Myke Thomas
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