![]() In the larger urban centres, even if home prices were to fall, they would eventually bounce back thanks to fresh housing demand stemming from population growth, Moffatt says. ![]() The risk of a housing bust is higher in some of the smaller communities that have seen steep price appreciation, Moffatt says. ![]() Likely, home prices will flatten out for possibly several years, allowing incomes to gradually make up some of the ground lost.īut if the current breakneck appreciation continues, “then we’re going to get into a situation where it’s almost a necessity that house prices actually fall to restore order and balance in the housing market,” Guatieri says. The dizzying pace of home price growth in the past several months is “quite unusual and it’s certainly unsustainable in the long run ,” says Guatieri.Īt some point, he adds, something will have to give.
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