Housing Market Is About To Fall Off A Cliff, Economist Says

by John Hugh DeMastri at CDN –

The price of residential homes could fall by as much as 20% next year off the back of mortgage rate hikes that are reducing demand, said Ian Shepherdson, chief economist of Pantheon Macroeconomics. With mortgage rates at their highest level since 2002, current homeowners are unlikely to purchase a new property unless …

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