OTTAWA -- Canada's housing market is expected to ease in 2010 and 2011 as the market returns to more balanced conditions, Canada Mortgage and Housing Corporation said Wednesday.
"Canadian housing markets have recovered from the low levels posted in early 2009," Bob Dugan, chief economist for CMHC, said in a release.
"Moving forward, housing starts will moderate as activity becomes more in-line with long term demographic fundamentals. New measures for government-backed mortgage insurance introduced by the government of Canada that took effect on April 19, 2010 will continue to support the long-term stability of Canada's housing market."
Source: Financial Post
Published: Wednesday, May 19, 2010
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