{"id":27265,"date":"2022-07-25T09:45:52","date_gmt":"2022-07-25T13:45:52","guid":{"rendered":"http:\/\/t3_w7pdy9"},"modified":"2022-07-25T09:45:52","modified_gmt":"2022-07-25T13:45:52","slug":"rbc-predicts-a-historic-correction-for-the-housing-market","status":"publish","type":"post","link":"https:\/\/blog.andrewwbradley.ca\/index.php\/2022\/07\/25\/rbc-predicts-a-historic-correction-for-the-housing-market\/","title":{"rendered":"RBC predicts a “historic correction” for the housing market."},"content":{"rendered":"

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RBC now expects home sales to fall nearly 23% this year and 15% next year, and national benchmark prices to drop more than 12% from peak to trough by the second quarter of 2023.<\/p>\n

The 42% drop in home sales from the peak in early 2021 will exceed the declines seen in the past four national downturns, Hogue said. In 1981-82 and again in 1989-1990 sales fell 33%; they fell 38% in 2008-09 and 20% in 2016-2018.<\/p>\n

The 12% decline in prices by early 2023 will be the steepest correction in the past five housing downturns, he said.<\/p>\n<\/blockquote>\n

https:\/\/ca.finance.yahoo.com\/news\/posthaste-canadas-housing-market-headed-115427064.html<\/a><\/p>\n

How would a housing correction affect you\/your investments? <\/p>\n

Personally I bought in 2020 with no intentions of selling any time soon. I know people who are either trying to sell now, or will need to sell in the next few years and I feel bad for them. One in particular is trying to sell right now and already had to lower the sell price twice in a month and a half. Things are already crashing pretty quickly.<\/p>\n<\/p><\/div>\n

submitted by \/u\/PastaSalad20 <\/a>
[link]<\/a><\/span> [comments]<\/a><\/span>Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

RBC now expects home sales to fall nearly 23% this year and 15% next year, and national benchmark prices to drop more than 12% from peak to trough by the second quarter of 2023....<\/p>\n","protected":false},"author":1,"featured_media":24127,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[10],"tags":[],"_links":{"self":[{"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/posts\/27265"}],"collection":[{"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/comments?post=27265"}],"version-history":[{"count":0,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/posts\/27265\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/media\/24127"}],"wp:attachment":[{"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/media?parent=27265"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/categories?post=27265"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.andrewwbradley.ca\/index.php\/wp-json\/wp\/v2\/tags?post=27265"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}