Economics
Housing Faces Multi-Year Climb Out of Covid-19 Hole in Canada
- CMHC sees sales dropping as much as 29%, prices by up to 18%
- Agency doesn’t expect a full recovery before the end of 2022
This article is for subscribers only.
Canada’s resilient housing market appears to have finally met its match in the Covid-19 pandemic.
The nation’s housing agency said the drop in sales and prices amid the “historic recession” caused by the virus will leave lasting scars, predicting the market won’t fully recover for more than two years