Fading Housing Optimism Deepens Decline in Canada Confidence

(Bloomberg) — The share of Canadians expecting real estate prices to fall has reached the highest level in seven years, driving consumer confidence to its third-consecutive weekly decline.The Bloomberg Nanos Canadian Confidence Index fell to 57.7 from 58.4 a week earlier, still above its 12-month average of 56.1. Several factors drove the deterioration, including real estate, weakening personal finances and pessimism about the Canada economy.“This particular week of tracking suggested downward movement on all indicators,” Nanos Research Group Chairman Nik Nanos said.The share of those expecting real estate prices in their neighborhood to decrease rose to 23.7 from 22.5 a week earlier, …
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