Canadian Real Estate News Headlines (May 3rd 2019)
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I provide you with Canada’s news headlines for real estate news for today.
Canadian Household Credit Sees Slowest March Growth Since 1983
Canadian households hit a new all-time high for debt, but the level of growth is slowing. Bank of Canada(BoC) numbers show the balance of household debt reached a new high in March. Despite breaking a new record, Canada’s credit growth is at recession low levels of growth. This can present a major kink in the chain of a debt driven economy.
Canada's housing markets not as vulnerable as prices fall more than 5%, CMHC report
For the first time in 2.5 years, Canada Mortgage and Housing Corporation has rated the housing market as only moderately vulnerable, indicating the hot conditions characterized by bidding wars and sky-high prices may be cooling off a little.
In its quarterly Housing Market Assessment, CMHC found that inflation-adjusted average price fell by 5.4 per cent in the fourth quarter of 2018 compared to the same period in 2017.
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