Sep
13
Vancouver Housing May Correct 10% or More, NBF’s Marion Says
By-
BoA’s Enenajor sees need for nationwide housing solution
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Marion, Enenajor, RBC’s Desjardins speaking in New York
Vancouver’s housing market may enter a correction with price declines of at least 10 percent, according to Stefane Marion, Montreal-based chief economist and strategist at National Bank of Canada.
“There is downside to single family homes in Vancouver,” after policy changes in the last year such as higher down-payment requirements and a provincial tax on foreign buyers, Marion said Tuesday at the Bloomberg Canadian Fixed Income Conference in New York. Price declines will be moderated by the province’s strong job growth, he said. “I don’t think it sends the economy into a tailspin. It’s a healthy correction,” Marion said…
Vancouver Housing May Correct 10% or More, NBF’s Marion Says
