The Canadian housing market is missing two key ingredients for a housing crash, Benjamin Tal, Chief economist for CIBC World Markets told MonsterMortgage.ca when he spoke to us yesterday in an exclusive session with our Mortgage Agents.
During the session, Ben Tal outlined what he believes will be a “boring”
housing market in Canada for the next five years as the rest of the Canadian economy catches up to inflated house prices in some Canadian markets. “Canada is missing the two key factors that can cause a housing crash, namely, high interest rates and the fact that the quality of the mortgage portfolio in Canada is world class”.
I will be writing up more details in our upcoming newsletter on our session with Benjamin Tal yesterday and provide further insight into the Canadian economy and the impact that various domestic and international factors will have on your bottom line in the coming months and years. Stay tuned.