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Canada’s Housing Market Downturn: Will it Restore Affordability?

October 19, 2022

The Bank of Canada’s rate liftoff in March marked the end of an exceptional period for our housing market during which activity and prices reached stratospheric levels. The correction since then was not—or should not have been—a surprise. What is less clear is how much of the pandemic trends will be reversed. Of particular importance for buyers is whether ownership costs will get more affordable. Robert will provide his outlook for the market and draw implications for affordability over the next phase of the cycle.



Download the slides in PDF format: TABE Webinar – Canada’s Housing Market Downturn


robert_hogue-1 Assistant Chief Economist, RBC Economics Robert Hogue

Robert Hogue is a member of the RBC Economics and Thought Leadership team, responsible for providing analysis and forecasts on the Canadian housing market and provincial economies. His publications include Housing Trends and Affordability, Provincial Outlook and provincial budget commentaries. In his functions, he is frequently called to comment on the economy both internally within RBC and externally with clients and the media.

Mr. Hogue joined RBC in May 2008 after spending 15 years with another Canadian financial institution as a senior economist specializing in industrial analysis. At the outset of his career, he spent four years as an economist with Ontario Hydro, where he specialized in industrial and macroeconomic analysis. Mr. Hogue holds a Master’s degree in economics from Queen’s University and a Bachelor’s degree from Université de Montréal.

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