Bank of Canada rate cuts rescued housing market from ‘implosion,' says CoStar economist [Yahoo! Finance Canada]
CoStar Group, Inc. (CSGP)
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Source: Yahoo! Finance Canada
from collapse, but they won't be enough to restore previous levels of activity, the chief economist of real estate analytics giant CoStar Group Inc. said this week. “I think the housing market just chugs along, basically the rate cuts are rescuing it from implosion, but it's not necessarily going to take off again,” Carl Gomez said in an interview with the Financial Post on Wednesday. “If you look where mortgage rates are today, they've come down a little bit but not a heck of a lot and they're certainly not going back to the lows they were over the last decade. So the housing market will get revived but it's not going to blow up again like it did before.” Gomez added that most of the mortgages and debt that people use to buy real estate is priced off of bond yields, which are dictated by the market, not the Bank of Canada. U.S. bond yields, which influence Canadian bond yields, went up following the re-election of Donald Trump , as it signalled a pick-up in economic activity and
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CSGP
Earnings
- 10/22/24 - Beat
CSGP
Sec Filings
- 10/28/24 - Form 4
- 10/28/24 - Form 4
- 10/25/24 - Form 144
- CSGP's page on the SEC website