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I am not an expert in real estate but this is interesting discussion and I’d like to join in.
I expect a mild crash within a couple of years. Canadian market is very US dependent.
I've watched on TV somebody said that the economy is not in decline and will continue to grow but slower; it’s not going in recession according to some annalists but I don't believe it.
I expect a soft landing in the overall Canadian real estate market. However, household incomes will not keep pace with higher mortgage rates and rising utilities costs, so housing affordability will still fall despite weakening price gains.
I don't think there will be a crash. I haven't seen anything significant enough to make me think there will be a crash. Yes some industries aren't doing well such as automotive which affect the economy but others like minerals and natural resources are very strong.
Does anyone know what Canada's poplulation growth has been like lately? Is it drastically different than the past 5 years?
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Rob Simpson C.E.T.
RSTech
Industrial Automation & Integration www.rstechnologies.ca