URE - Real Estate Engine Running Out Of Steam - For Good Reason
Sales trends lead price trends, and according to a new report by Altus Group on behalf of the Canadian Real Estate Association, Canadian home sales fell 11% nationally in 2018 on poor affordability, higher rates and tougher loan qualification rules. The report also estimates that each home sale not made is a loss of some $60,000 in knock-off revenues not flowing through the economy to related services like lawyers, realtors, movers, home furnishings etc. See: Sales decline causes significant economic spin-off losses.
Naturally, these are the same 'feeder fish' sectors that grew above trend over