(Bloomberg) The head of Canada’s national housing agency defended his organization’s prediction that the Covid-19 pandemic would cause a sharp decline in the residential real-estate market after it unexpectedly boomed instead.“I’ve been taken to task for pessimistic housing forecasts last spring,” Evan Siddall, president and chief executive officer of Canada Mortgage and Housing Corp., said Monday in a thread of posts on Twitter. “At the time, I felt responsible to share what my colleagues were predicting. Times were uncertain and I felt that a warning about house prices was responsible. Indeed, I don’t recall anyone predicting accurately what actually transpired.”CMHC released forecasts last May saying fallout from the pandemic could cause Canadian home values to plunge between 9% and 18%. The market instead powered to a record year for sales and prices.In his posts, Siddall said the earlier forecasts didn’t anticipate h
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