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Canada’s housing market is softening but not nearly as much as the U.S. market, says Action Economics LLC, a forecasting firm.
Action Economics says that, “Indeed, still-high price growth suggests that the housing sector will remain a source of upside risk to the [Bank of Canada’s] economic outlook well into next year, just as the Fed continues to monitor downside risk.”
BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.