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Briefing

Canada: Real-Estate Sector

Appears in: North America, Macro View, Canada, Commercial, Real Estate and Mortgage Finance, Real Estate Sector, Residential

Critical Issues

Do Vulnerabilities Loom as Canadian Housing Revives?

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Could Canada Face Its Own Subprime Crisis?

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What is the Negative Wealth Effect of Declining Equity and Housing Prices in Canada?

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How is the Commodity Bust Affecting Canada's Economy?

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Background:

Declines in trade, particularly with the United States, dampened Canada's net income and took a toll on the country's housing market in early 2009, but the market quickly rebounded, supported by low interest rates. Canadian housing starts, which sharply decreased in H1 2009, stabilized by the summer and prices have been climbing. Yet the beginnings of a possible turnaround were visible by mid-2009, with prices and sales declining at a slower pace—and then increasing. Fixed-rate mortgage interest rates around 4% and more affordable house prices brought homebuyers back into the market—an uptick in the sales of existing homes followed. Analysts have also noted that Canada's housing supply overhang, prompted by overbuilding, remains lower than oversupply levels seen in the 1990s.

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RGE Global Outlook Update


Table of Contents


Economic Outlooks:
 Global | U.S. | Japan
China | Eurozone
Germany | France | UK
India | Brazil


Global Issues
Growth & CPI | Commodities

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8. U.S. Home Prices: Any Signs of an Impending Double Dip?
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