Canada’s Housing Market on Verge of a Major Correction, RBC Predicts

Canada’s Housing Market on Verge of a Major Correction, RBC Predicts
A "sold" sign in front of a house in the Riverdale area of Toronto on Sept. 29, 2021. (The Canadian Press/Evan Buhler).
Peter Wilson
Updated:
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Canadians can soon expect the largest housing market correction in over 40 years, the Royal Bank of Canada predicts in a new report.

Robert Hogue, an analyst at RBC Economics and the author of the report, said surging inflation has caused RBC to change its former economic forecast to a more severe alternative.