{"id":3792,"date":"2016-10-26T11:11:07","date_gmt":"2016-10-26T18:11:07","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=3792"},"modified":"2016-10-24T20:25:25","modified_gmt":"2016-10-25T03:25:25","slug":"canadian-housing-crash-fears-overstated","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2016\/10\/canadian-housing-crash-fears-overstated\/","title":{"rendered":"Canadian Housing Crash Fears Overstated"},"content":{"rendered":"<p style=\"text-align: justify;\">In a report released last week, Moody\u2019s Analytics assured that while the Canadian real estate sector will experience a more relaxed pace in home price growth over the next half decade, rumors of a massive crash are greatly exaggerated.<\/p>\n<p style=\"text-align: justify;\">\u201cThere has been a lot of speculation about Canada\u2019s housing markets overheating during the past two years,\u201d Moody\u2019s economist Andres Carbacho-Burgos said in the report, as quoted by Global News.<\/p>\n<p style=\"text-align: justify;\">\u201cThe house price outlook calls for a deceleration of house price growth, not for a serious decline, though there are exceptions for smaller regions,\u201d the analyst added.<\/p>\n<p style=\"text-align: justify;\">The Moody\u2019s report predicted that prices for detached single-family properties will rise by 9% in 2016, and by around 2.9% a year for the next five years.<\/p>\n<p style=\"text-align: justify;\">Ontario is expected to be a focus of growth with four out of the five strongest metropolitan markets nationwide. In particular, Barrie prices will increase by 7.9% annually over the next five years, with Toronto and Oshawa prices coming close at 6.7% growth per year.<\/p>\n<p style=\"text-align: justify;\">\u201cToronto and possibly Oshawa benefit from strong foreign capital inflows, and most of the metro areas in Ontario also benefit from good projected income growth and from the lack of any extended house price correction in the historical data, pointing to weak mean reversion effects thanks to non-measurable factors such as wealth and good mortgage credit quality,\u201d the report stated.<\/p>\n<p style=\"text-align: justify;\">The Moody\u2019s study came in the wake of the Canada Mortgage and Housing Corporation\u2019s statement that there is a strong possibility of major movements in Toronto and Vancouver due to continuous home price growth.<\/p>\n<p style=\"text-align: justify;\">Observers warned that home prices might fluctuate wildly amid new federal mortgage rules, which mandated among others a harsher \u201cstress test\u201d on borrowers. Fears about that this might lead to less construction\u2014and thus more limited supply.<\/p>\n<p><a href=\"http:\/\/www.canadianrealestatemagazine.ca\/news\/canadian-housing-crash-fears-overstated--moodys-215914.aspx\" target=\"_blank\">Canadian Housing Crash Fears Overstated<\/a> by Ephraim Vecina | Canadian Real Estate Wealth<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a report released last week, Moody\u2019s Analytics assured that while the Canadian real estate sector will experience a more relaxed pace in home price growth over the next half &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2016\/10\/canadian-housing-crash-fears-overstated\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-3792","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Canadian Housing Crash Fears Overstated &#8226; 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