There's No Stopping Canada's Housing Market
September 28th, 2007"What remains the greatest source of weakness in today's U.S. economy
is a continued source of strength in Canada," says Warren Lovely of
CIBC World Markets in a recent report. "While the U.S. housing market
is mired in deep recession, Canada's own housing market has
demonstrated extraordinary resilience."
This week the
Canadian Real Estate Association (CREA) predicted that national home
sales will rise to 8.1 per cent in 2007, setting an all-time sales
record. Prices are also expected to go up by a whopping 10.4 per cent
in 2007, with another 5.5 per cent increase in 2008.
"Resale housing activity was a
"Resale housing activity was a