Despite claims that the likelihood of a Canadian property market crash is ‘remote’, activity in the market is expected to slow in 2016 according to RBC Economics; interest rates are expected to begin to rise simultaneously. RBC has claimed that the market could have three of its most successful years on record despite recent low property selling prices in ‘oil sensitive’ regions such as Alberta and Saskatchewan, which have suffered as a result of decreased oil prices. The bank did, however, admit that high levels of unemployment could trigger a housing market crash.
Despite claims that the likelihood of a Canadian property market crash is ‘remote’, activity in the market is expected to slow in 2016 according to RBC Economics; interest rates are expected to begin to rise simultaneously. RBC has claimed that the market could have one of its most successful years on record despite recent low property selling prices in ‘oil sensitive’ regions such as Alberta and Saskatchewan, which have suffered as a result of decreased oil prices. The bank did, however, admit that high levels of unemployment could trigger a housing market crash.