Aug 18, 2020 by Pamela Heaven
According to BMO senior economist Robert Kavcic, during the pandemic recession, the performance of the housing market has been surprising.
Based on the data that was shown last August 17, 2020, Canada’s housing market surged in sales at 26% beating the records in July.
“In fact, this has shaped up to be a bizzaro-recession for the sector, where what is usually down is up, and vice versa,†he said in a note.
Pointing out some of the ways the housing market is going against the norm.
Kavcic is expecting that the lower end of the housing market and rental properties will be affected by the impact.
Posthaste: Five really weird things about Canada’s roaring housing market
What does this mean?
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