Cooling Housing Market to Trigger 'Mild Recession' in 2023: RBC

The post-lockdown momentum driving GDP in Canada’s provinces will soon slow to a crawl, as the impact of higher interest rates trigger a “mild recession” by mid-2023 - and the housingmarket will bear the brunt. realestate cdnpoli housing

10:48 AM Sep 12, 2022

In a report authored by economists Robert Hogue, Carrie Freestone, and Rachel Battaglia, while 2022 is “shaping up to be another year of solid growth” for the provinces as they come off pandemic-induced contractions from 2020, the growth party is ending.reads their report “The housing downturn will mark a notable turning point for most provincial economies. A booming residential sector in the past two years provided tremendous thrust to the recovery from the pandemic recession,” they write.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

storeyspub /  🏆 16. in CA

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Return of RBC GranFondo Whistler cycling event garners thousands of riders | Globalnews.caThe 122 kilometre event began at 7 a.m. Saturday at Stanley Park. Cyclists travel over the Lions Gate Bridge and up the Sea-To-Sky Highway before finishing in Whistler Village.
Read more »

What the Bank of Canada's latest rate hike means for homebuyersRealosophy Realty\u0027s John Pasalis speaks about what to expect from the housing market this fall, and more. Watch the video.
Read more »

What the Bank of Canada's latest rate hike means for homebuyersRealosophy Realty\u0027s John Pasalis speaks about what to expect from the housing market this fall, and more. Watch the video.
Read more »

What the Bank of Canada's latest rate hike means for homebuyersRealosophy Realty\u0027s John Pasalis speaks about what to expect from the housing market this fall, and more. Watch the video.
Read more »

What the Bank of Canada's latest rate hike means for homebuyersRealosophy Realty\u0027s John Pasalis speaks about what to expect from the housing market this fall, and more. Watch the video.
Read more »

What the Bank of Canada's latest rate hike means for homebuyersRealosophy Realty\u0027s John Pasalis speaks about what to expect from the housing market this fall, and more. Watch the video.
Read more »