This is why Canada will suffer a massive housing market crash

This is why Canada will suffer a massive housing market crash, especially in the areas with massive bubbles like Toronto and Vancouver. Right now Canadian home prices have fallen nearly 20% in 1 year. One of the steepest declines on records and it might be far from over. When you look at the US during the fed rate hike cycle prior to 2008. Peak home prices had fallen 11% by the time the 2008 recession rolled around.

Canada home prices didn't even fall. When interest rates were cut and the economy entered a recession then home prices fell. This suggests the recession was much worse for real estate than interest rates. It also suggests we may be able to use the real estate price declines during the interest rate hiking cycle as a forward indicator of how bad the declines will be during the major recession when unemployment rises significantly.

You won't hear any news like this on any of the mainstream media organizations like City News, CTV News, CBC News, and Global News.

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