Canadians households could withstand 40 per cent drop in house prices
Canadian households could withstand as much as a 40 per cent drop in house prices without defaulting on their loans, a report by the debt-rating agency DBRS says.
Canadian home sales last month plunged nearly 11 per cent from a year earlier and prices were down 3.6 per cent, said a report from the Canadian Real Estate Association yesterday, adding to evidence that the long-running domestic housing boom has ended.