Housing Market Outlook – 2007 Second Quarter

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CMHC has just released its 2007 Second Quarter Housing Market Outlook. Some of the things they are forecasting is a market correction in the housing market in 2007/8. But don’t call it a crash please. They like to call it a soft landing. Maybe they read my notes from Benjamin Tal’s talk? Maybe. The following are factors that they/me/Benjamin predict will impact the housing market which will result in a ‘soft landing’:

  • Strong Canadian economic growth
  • Strong Immigration
  • Strong Canadian dollar and modest GDP growth
  • Job growth
  • Consumer confidence

So there you have it. Everything seems nice! To read the report for yourslef please click on the following link:

http://www.cmhc-schl.gc.ca/odpub/esub/61500/61500_2007_Q02.pdf

That’s all for now!

Karim Kanji

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