Canada Mortgage and Housing Corporation CMHC have predicted that Canada's housing market is stabilizing, however, they point out that the economic uncertainty is still present in world markets and if there is a slower recovery of the U.S. economy or other world financial markets, that could lead to a slower growth in employment in Canada. Unemployment for Canada is forecasted to be 8.1% and 8.8% in Ontario for 2010. This could then lead to a lower demand for housing which CMHC have forecasted. On the other hand, if there is a greater recovery, then the demand could be greater in the housing market than their forecast. Their forecast also assumes that mortgage rates will remain relatively flat through the end of 2011. For more information visit their website at http://www.cmhc-schl.gc.ca/odpub/esub/61500/61500_2010_Q04.pdf?fr=1294425225015
Friday, January 7, 2011
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