Consumer Confidence Edges Higher on Hot Canadian Housing Market
ByConsumer confidence hit a fresh high this year as the number of Canadians expecting a decline in real-estate prices dropped, telephone polling shows.
The Bloomberg Nanos Canadian Confidence Index rose to 57.9 from 57.8 a week earlier, reaching the highest level since November. The gain was driven by increased housing optimism: the difference between the share of those expecting a price increase over six months and those expecting a decrease rose to 30.2 percent, the widest gap since October 2014.
The figures come after Bank of Canada Governor Stephen Poloz warned last week ofhousing overvaluation in the country’s two biggest markets, Toronto and Vancouver. The federal government announced tighter mortgage rules in December, but bank executives said this month that further steps are needed to cool surging prices…
Consumer Confidence Edges Higher on Hot Canadian Housing Market
