[MillerTime GFG]

MoneySense Week: Should I really buy a house now?

http://www.canadianbusiness.com/investing/moneysense-week-should-i-really-buy-a-house-now/?utm_source=hootsuite

Why there won’t be a housing market crash in Canada

“We’re expecting a soft landing for Canada’s housing market in 2015,” explains Marc Pinsonneault, senior economist at National Bank of Canada. “There won’t be a profound correction in housing prices.”
While Pinsonneault and his colleagues do believe house prices will decline in 2015 and 2016, they’re convinced it will be s slow cooling, not a crash. (Cooling is a term used to describe a housing market that slowly depreciates in terms of price and number of sales. A cooling market means there is no sudden, large drop in prices, sales or new builds, which are indicators of a market crash.)
The first reason Pinsonneault predicts a cooling and not a crash is that mortgage rates aren’t going to escalate rapidly over 2015 and into 2016. “We’re going to see increases, but not 100 basis points at a time,” says Pinsonneault.