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Mortgage Broker News | 22 May 2014, 09:22 AM Agree 0
Pacific Investment Management Co. forecasts Canadian home prices falling as much as 20 per cent in the next five years, removing the boost from household spending that contributed to faster than- expected growth last quarter, reports the Ottawa Citizen.
  • mark | 22 May 2014, 10:17 AM Agree 0
    Why don't they just say vancouver and toronto market will correct.
  • sudhir sharma | 22 May 2014, 10:27 AM Agree 0
    We should consider the strong demographics, employment, immigration and inflation which are favourable to a growing housing market.
  • Angela Wong-Liao - Invis Inc | 22 May 2014, 10:38 AM Agree 0
    Real estate market correction has been predicted for at least 5 years, but the real estate market remaining strong because of low interest rates and immigrations. In view that Canada is tightening their immigration guideline, especially for investors, I believe there is a big impact to Canadian real estate, especially Toronto and Vancouver, which are very much influenced by Asian immigrants. China is tightening up in house cleaning of bribes and corrupt government officials recently and there are a number of real estates were purchased by these dirty money, I agree with Pacific Investments' forecasts, 10 to 20% correction is possible.
  • Ferdinand Gatt | 22 May 2014, 10:52 AM Agree 0
    Home prices in London On have been stable with 2-4% per year increases generally, for the last 5 years. I do not see as much as a 20% correction in this area.
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