Housing In Toronto To Possibly Experience A Slump

The hottest real estate markets in Canada is expected to have a serious decline based on David Madini of Capital Economics. A warning was given by the economic, cautioning that the increase in Vancouver sales is a momentary jump, whereas, the slowdown in the biggest market of Toronto is an indication of a price adjustment.

The effect according to Madini will possibly be felt outside the real estate market with a strain on the second-quarter GDP, possibly dragging it by merely one per cent, but if not then longer-term point of view seem to be getting worse.

Investment in housing could likely go down, and this would have effect on the financial standpoint and reduced consumer consumption.