Real Estate Investors Sell or Hold as the Correction Draws Near
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Royal Bank of Canada recently downgraded the forecast for the national housing market. With the new interest rates pressuring mortgage affordability, and variable rates jumping closer to the fixed rates, the largest bank in Canada is expecting an extremely aggressive correction. The predicted 42% decline from the 2021 peak in the home resale numbers is even higher than the 38% during the Great Recession.
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