Canada's home price growth slows in June on rising interest rates

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The relevant fact is housing prices have CEASED rising since March when rate hikes began. Average prices have fallen every month since. We have entered a period of NEGATIVE GROWTH in house prices. That's what's most important now, not that prices are still higher vs. a year ago.

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Toronto new home construction jumped again in June — but economists see a slowdown coming soonNew housing starts hit nearly 50,000 last month, up 27 percent from May, according to the CMHC. But with interest rates rising quickly, experts say the boom can’t last. But “economists” are paid to keep the narrative and prices up. All of this shut is self fulfilling prophecies. Just like recession talk. Get the right ones talking recession and the dominoes fall to support it. How about this? Report the news and shut the prognosticators up.
Source: TorontoStar - 🏆 60. / 55 Read more »