On this episode of The Real Pulse, Robert Hogue, RBC’s Assistant Chief Economist, sits down with Nurit Altman, Managing Director, RBC Capital Markets Real Estate Group, to discuss how higher interest rates are expected to trigger a 12-13% price decline nationally over the next year, with some markets witnessing an even more significant correction.
In this episode:
The Canadian housing market’s pandemic price rally is finally in retreat. Policymakers’ focus on addressing supply-side challenges has also raised the prospect of improved affordability over the longer term in some markets. But renters can expect to see prices drive higher, as many disappointed would-be homeowners’ bide their time and pile into the already tight rental market.
Robert Hogue is responsible for providing analysis and forecasts on the Canadian housing market and provincial economies. Robert holds a Master’s degree in economics from Queen’s University and a Bachelor’s degree from Université de Montréal. He joined RBC in 2008.
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