Housing weakness expected to be a drag on growth
Filed Under Main Content · Tagged: Canada Mortgage And Housing, Declines, Diana, Drag On, Economic Growth, Economist, Economists, Economy, Five Months, Gdp, Gdp Growth, Housing Market, Housing Starts, Post Canada, Real Gdp, Rebound, Residential Investment, Second Half, Straight Quarters, Td Economics
Financial Post- Canada’s housing market helped lift the economy in the early part of the recovery but will now act as a drag on growth, with starts falling for two straight quarters and expected to continue to fall in the months ahead, economists say.
Canada Mortgage and Housing reported Friday housing starts declined 1.5 per cent in September from the previous month, bringing the seasonally adjusted annual rate to 186,400 units in September.
Analysts had called for a bigger drop in starts, to 179,000.
Starts have now fallen for four of the past five months, leading to two straight quarters of overcall declines.
"After helping to support the rebound in real GDP growth over the last year, residential investment is likely to be a drag on economic growth through the second half of this year," said Diana Petramala, an economist at TD Economics…
Housing weakness expected to be a drag on growth
The end of Canadian real estate insanity
Filed Under Main Content · Tagged: 20th Century, Canada, Canadian Real Estate, Estate Experts, Fades, Globe And Mail, Globe Mail, Home Ownership, Housing Market, Insanity, New York Times, Rich Rewards, Second Half
The Globe and Mail- A New York Times headline caught my eye the other week: Housing Fades as a Means to Build Wealth, Analysts Say. The article went on to report that, while most real-estate experts believe the U.S. housing market will recover from falling off the cliff, many also feel that home ownership will never again produce the rich rewards enjoyed in the second half of the 20th century.
There was something about the piece that made me think: Maybe this isn’t all bad. But is it true? And does it apply to Canada?…
The end of Canadian real estate insanity – The Globe and Mail
Canadian housing starts will weaken but won’t be infected with U.S. virus
Filed Under Main Content · Tagged: Fiasco, Housing Market, Housing Starts, Journal Of Commerce, Second Half, Spectre, Virus
Journal of Commerce- Housing starts in the second half of this year will weaken versus the first half, according to CanaData’s latest forecast. There are five obvious reasons.
Several others are subtle and raise the spectre of the Canadian housing market being infected with the deadly U.S. housing-fiasco virus. More on that in a moment, but let’s begin with factors working against Canadian housing starts…
Canadian housing starts will weaken but won’t be infected with U.S. virus – Journal of Commerce
House prices to drop: TD – The Globe and Mail
Filed Under Main Content · Tagged: Canadian Real Estate, Economist, Globe And Mail, Globe Mail, House Prices, Mail House, Outlook, Pascal, Real Estate Sector, Second Half, Td Bank
The Globe and Mail- House prices will fall in 2011, TD Bank said Wednesday as it revised its outlook for the Canadian real estate sector.
The bank left its forecast in place for 2010, saying there should be about 475,000 transactions at an average price of $350,000. That’s a 9-per-cent increase compared to the end of 2009.
“However, this hides an underlying shift occurring over the course of the year,” said TD Bank economist Pascal Gauthier. “While we anticipated sales and prices to be strong in the first half and to cool in the second half, we now expect this contrast between the two halves will be sharper…”
