As the global battle to tame inflation enters its next phase, Canada’s housing market offers a glimpse of what could play out for many other developed nations: A game of chicken between central bankers and consumers.
It started when the Bank of Canada paused its campaign of interest rate hikes earlier this year, dutifully warning they could go higher still and would at least stay elevated for some time. But no one seemed to believe it. House hunters promptly swarmed back into the market.
Already a subscriber?Log in
Read the full story and more at $9.90/month
Get exclusive reports and insights with more than 500 subscriber-only articles every month
ST One Digital
ST app access on 1 mobile device
Unlock these benefits
All subscriber-only content on ST app and straitstimes.com
Easy access any time via ST app on 1 mobile device
E-paper with 2-week archive so you won’t miss out on content that matters to you
Join ST’s Telegram channel and get the latest breaking news delivered to you.
content: ” “;
font-family: “SelaneWebSTForty”, Georgia, “Times New Roman”, Times, serif;