But purchasers remain confident they'll be able to make monthly payments.
But some question whether market can absorb flood of new units
Perceptions run counter to Statistics Canada data
'The condo market is well-served … but there’s undersupply of every other type of home.'
CMHC numbers suggest the upward trend that began in 2017 is continuing in the early part of this year.
Non-residents own 0.7% of Ottawa’s condos, according to data released by the Canadian Mortgage and Housing Corp.
New CRTC regulations on mobile phone contracts come into effect and four other stories to watch for in the Canadian business world this week.
However, vacancy rates are expected to face upwards pressure in 2019 as developers complete rental construction projects.
Year-to-date housing starts up 29% over 2016.
Through the first three quarters of the year, housing starts increased a whopping 36 per cent from 3,801 homes in 2016 to 5,169 this year.