The U.S. housing market has been mired in a slump dating back to 2022
Other forms of borrowing decline, led by HELOCs
Actual housing starts were markedly lower in two of Canada's three major cities compared with June 2023
Most provinces recorded year-over-year increases in asking rents for purpose-built and condo rentals
Fitch sees defaults, arrears rising as growth slows amid tight financial conditions
Rental housing increasingly popular due to demographic shifts and the unaffordability of home ownership
Real estate board says the number of homes sold in June tumbled 19.1%
Moderate price growth is forecast, and arrears is expected to rise slightly
Gifts to support home purchases rising alongside home prices, CIBC says
Despite initial cut, monetary policy remains restrictive, and economy faces other headwinds