The national economy will need to play catch-up with high house prices, economist says
Canada’s real estate markets should remain heated through the spring, fuelled by generationally low mortgage rates, before settling into “more subdued” conditions as those rates rise, says the latest forecast from Scotia Economics.
Scotia Economics senior economist Adrienne Warren said the last decade saw “the strongest decade of real price appreciation in at least 50 years,” which will require an extended period for the economy to catch up with job creation and wage increases…
Posted by: Derrick Penner, Vancouver Sun
Date: March 24, 2010