ARE HOUSE PRICES ABOUT TO DROP?

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“Definitely as we move through the year, it’s possible we’ll see average prices below that January mark.”

Jason Mercer – Chief Market Analyst – TRREB

“In some markets, where you had really rapid increases in prices, you could see a fall of 10%, 20%,”

Peter Routledge – Head – Office of the Superintendent of Financial Institutions

“A rise in the cost of groceries, gasoline, and other staple goods has coincided with a continued climb of housing prices.” 

Angus Reid Institute

“As interest rates rise and other supports are removed, I wouldn’t be surprised to see some borrowers end up in stress – but how many remains to be seen.”

Seamus Benwell – Senior Analyst – Canada Mortgage and Housing Corporation (CMHC)