Real estate reality - MoneySense

Real estate reality

House prices to drop 5% over medium term, experts polled by Reuters say. This and more in the daily roundup.

  • House prices in in this country will fall 5% on average in the next few years, according to a poll of more than 20 Canadian real estate watchers by Reuters. Vancouver and Toronto will lead the price drops though the country will avoid a full-out crash thanks to tightened mortgage lending rules, it said. While the news isn’t particularly good for homeowners hoping to sell for big bucks, it is welcome news for younger and first-time buyers.
  • Canadian bankers rank among the highest paid CEOs in North America.