Housing Finds Its Floor, Markets Rally, but Labor Storms Threaten Canada's Recovery

Canada's long-suffering housing market may finally be hitting rock bottom — and that's actually good news. BMO Capital Markets senior economist Robert Kavcic is cautiously floating what he calls the "b-word" in a July client note titled Bottom Fishing in Canadian Housing, arguing that lower borrowing costs, rising incomes, and more balanced market conditions have helped prices find a floor after more than four years of decline since the 2022 boom ended. The correction has...