Contingent on who you ask, you will find varying opinions on when and how the Canadian real estate sector will cool down from its recent spectacular rise. As specified by the story issued this month in the “Globe and Mail,” TD Bank bluntly foresees that by the later half of 2011, housing values will drop 2.9 percent, but not until they undergo a 9 percent increase in market price over 2009 prices. But economist Sal Guatieri of BMO Capital Markets is somewhat hopeful, telling “The Montreal Gazette” that the overvaluation that caused the housing bubble will just affect large cities, and should not bring about the kind of nationwide meltdown anticipated in the US sector. One thing they both appear to concur on, however, is that the Canadian real estate sector is headed for a slowing trend — the question is simply how much and how soon.
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