Shelly Hagan
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Canadaâs hot housing market is showing early signs of a slowdown that may soften the industryâs contribution to the economy â but not enough to be a major concern, according to one bank economist.
âNow that Canadians are leaving their homes more often, demand for housing is cooling off after a period of historic strength,â Canadian Imperial Bank of Commerce economist Royce Mendes said in a report. âAs a result, we do expect this component of GDP to come back down to earth.â
Lockdowns prompted an exodus of Canadians from apartments and condos in city centres to homes with more space.Â
Canada retail sales seen rebounding in June after declining 2 1% in May
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Cooler housing market won t hurt Canada s recovery: CIBC
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Cooler housing market won t hurt Canada s recovery: CIBC
bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.