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CMHC couldn’t predict the wetness of water.
Pop goes the bubble.
They got it so right a year ago. You'd have to think they are going to nail it again. /s
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CMHC predicts COVID-19 immunity will moderate pace of home sales, prices by 2023Canada Mortgage and Housing Corp. says the average home price could rise by as much as 14 per cent this year, but the pace of sales could moderate by the end of 2023 if broad immunity to COVID-19 is soon achieved. The 30 something’s generation must start walking away and not play the bidding war. Interest rates will change one day and how will they make those payments. Property has only the value in which it is given. Subtract any structural work, electrical , plumbing etc. People will scan prices in stores to save .50 cents, but are unrealistic in buying homes. The interest rates will change guaranteed. Then how will people pay for an inflated price
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Higher prices will create a drag on future sales of Metro Vancouver homes: CMHC reportCMHC senior analyst Braden Batch predicts Metro Vancouver\u0027s housing market will face the same housing affordability and supply shortage challenges that existed pre\u002Dpandemic.
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