With March, April and May seeing big slowdowns in sales last year, this year will look soooooo much better, but it will create a false sense of what r
With March, April and May seeing big slowdowns in sales last year, this year will look soooooo much better, but it will create a false sense of what really happened.
Indeed.
Comment: Last year Mr. Evan Sidall, the then CEO of CMHC forecast a 18% price decline! OzBuzz argued vigorously that this was nonsense, and I went on the Michael Campbell Money Talks show to refute it further. In fact, since Sidall’s initial warning in May 2020, the average Canadian home price has risen 25.7 per cent. Seven readers sent me yesterday the tweets by Mr. Sidall, where he admits – a full year later, he was wrong!
“In a series of tweets Monday morning, Canada Mortgage and Housing Corporation (CMHC) President and Chief Executive Officer Evan Siddall said unforeseen circumstances helped the domestic housing market avert the worse-case scenario, which CMHC had described as a potential 18 per cent drop in home prices from pre-pandemic levels.”
Actually his “unforeseen circumstances” is not an admittance, but … give me a break … he was sooo wrong.
