CIBC economists throw out some pretty precise figures in their “Economic Insights” report released today titled, “Ottawa Should Stay the Course” suggesting that growth in the Canadian economy will fall fairly flat through 2011 and that now is not the time for the federal government to be making major monetary policy changes.
According to CIBC, the typical Canadian home is 11.8% overvalued. British Columbia is the worst off overshooting fair market values by 16.8%. Atlantic Canada is the least overvalued with prices that are out of their fair value range by just 5.9%. Saskatchewan sits just below the national average with housing prices that are 11.3% above fair market value.
Read the entire CIBC report here.
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