Will Canada's housing market crash 'fairly manageable'?

Jimmy Jean, chief economist and strategist for Desjardins, noted that greater levels of immigration, shortage of housing supply, and strong demand will lead to a decline in home prices that’s “fairly manageable” before stabilizing. A Canadian housing market crash is too strong a description.

Why are Montreal housing prices still rising?

In the case of Montreal, average prices are still rising because of changes in the composition of homes sold. Despite being one of the largest housing markets in Canada, the Montreal housing market has remained more affordable than Toronto's and Vancouver's housing markets.

Does Canada have a real estate crash?

There’s no fixed definition for a real estate crash, but recent crashes in Canada and the U.S. have seen home prices drop by double-digits and remain suppressed for several years as buyers avoid what they see as a risky market. Will Canada’s housing market crash in 2023?

How did the housing market crash affect North America?

The two most recent crashes to impact North American housing markets were the 2007-2013 downturn that impacted the U.S., and the crash that brought down Canadian housing values in the early 1990s. America’s housing crash during the Global Financial Crisis saw the country’s median home price fall by 29% between July 2006 and January 2009.