Good news! Despite all the fearmongering, gloom and forecasts of dismay for the Canadian housing market we can now happily report that our market has achieved what the US housing bubble could not – A SOFT LANDING!
“Despite the klieg-light focus on the Canadian housing market this year, its performance has been far from exciting,” said Mr. Porter.
“It increasingly looks like most major markets are indeed undergoing a policy-induced correction. But, for now, the landing looks to be soft in most cities (with some cities actually still lifting off), with the rather obvious exception of Vancouver.”
As Mr. Porter added in an interview, “I don’t think you can call what’s going on in Vancouver a soft landing anymore.”
.. A bumpy landing then?
Read the full article over at the Globe and Mail.