Economist: No 'soft landing' for Canadian markets

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Forget about a soft landing for slumping Canadian housing markets, says an economist who’d previously predicted home prices in the Great White North were headed for a 25 percent decline over the next few years.

David Madani, an economist at Toronto-based Capital Economics Ltd., said he doesn’t expect home prices will rebound this year, even though builders reined in housing starts in April for the first time in three months.

Phil Soper, chief executive officer of Brookfield Real Estate Services, said at the Bloomberg Economic Summit that he expects a soft landing, noting that there’s only 6.5 to 6.8 months of inventory at the current rate of sales. Source: bloomberg.com.