Today's News
ELAL 800×100
Peerles 800×100
S&P 600×100
Community Sports 800×100
Shlomo Artzi 800×100
Israel Bond RRSP Jan 2017
S&P 600×100
ELAL 600×100
Shlomo
Photo: CIJnews

“Speculative forces” push Toronto housing prices up

Carolyn A. Wilkins, Senior Deputy Governor of the Bank of Canada, presented on Wednesday, April 12, 2017, the highlights of the Monetary Policy Report (MPR).

Referring to the soaring housing market, Wilkins said that the current pace of activity is unlikely to be sustainable. The following is an excerpt from Wilkins’ statement:

Housing activity has also been stronger than expected. We have incorporated some of this strength in a higher profile for residential investment, although we still anticipate slowing over the projection horizon. The current pace of activity in the Greater Toronto Area (GTA) and parts of the Golden Horseshoe region is unlikely to be sustainable, given fundamentals. That said, the contribution of the housing sector to growth this year has been revised up substantially. Price growth in the GTA has accelerated sharply in recent months, suggesting that speculative forces are at work. Governing Council sees stronger household spending as an upside risk to inflation in the short term, but a downside risk over the longer term.

ELAL 600×100
Buzaker 600×100
S&P 600×100
Israel Bond RRSP Jan 2017

About CIJnews Staff

CIJnews Staff
CIJnews is an independent, dynamic and reliable online news source that serves the Canadian Jewish and Israeli communities and provides an uncensored platform for the spectrum of voices.

Send this to friend