Economists say new mortgage rules may cause a boom
Posted Feb 18, 2010 7:00 am.
This article is more than 5 years old.
The federal government’s move to change the rules for first time home buyers could spark a boom.
That’s according to a number of economists, who believe home buyers will push to beat the clock on new regulations set to take effect on April 19th.
That could lead to a spike in home sales, followed by a sharp pullback and lower prices in the second half of the year, according to The Globe and Mail.
But economists are quick to add the pullback and drop in prices won’t be enough to crater the housing market.
