Market Commentary
This Week in Economic and Real Estate News - by MCAP Mortgage
December 16, 2013 | Posted by: Francine Tracey
The Week in Economic and Real Estate News - by MCAP Mortgage
CMHC reported on November housing starts last week. Starts have trended down slightly but are following in line with the existing home market.
ReMax published its 2014 Housing Market Outlook last week which calls for an 'exceptionally healthy' market next year. The forecast was contradicted by a report from Deutsche Bank which said that the Canadian housing market is the most overvalued in the developed world.
The latest Teranet House Price Index was released last week. The index slipped slightly in November but has increased by 3.75% in 2013.
Statistics Canada reported last week on consumer debt levels last week. The ratio of debt to disposable income reached a record level in the third quarter but average consumer net worth also rose.