Canada’s oldest bank has a warning for homebuyers — prices don’t always rise. The uncharacteristic message came from BMO‘s chief economist Douglas Porter. Canada has seen few home price corrections, causing homebuyers to think of it as “risk-free.” Not just in Toronto or Vancouver, but virtually every market in the country, all simultaneously. BMO wants you to know that’s not always the case, and risks rise the longer home prices avoid a correction.
Canadian Real Estate Prices Climbed Despite A Decade Of Warnings
Canadian real estate has faced “bubble” warnings for nearly a decade that have not come true. Some dudes named Poloz and Macklem were even ranting about it back in 2013 but have since come around. Justified or not, listening…
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