Today, we proudly release MPC’s latest consumer report – Rapidly Evolving Expectations in the Housing Market, written by our Chief Economist Will Dunning.
One of the reasons we look at economic trends is that, most of the time, the recent past gives us reasonably reliable clues about what might happen in the near future. That is not the case in these extremely abnormal times - the COVID-19 emergency has resulted in extremely volatile shifts in the Canadian housing market. At this point, it is impossible to confidently develop any forecasts for the housing market because of extreme uncertainty about the key factors that will drive consumer decisions.
Opinions about the mortgage deferral program.
Our intention is to conduct the same survey three more times, in six-week increments, to track any changes in sentiment toward the market, the deferral programs and homeownership as a good idea. It will be interesting to see how consumer attitudes may change with the competing pressures of the evolving pandemic emergency, economies reopening and mortgage deferral programs expiring.
We encourage you to share the report.
