Hard landing vs. crash In living memory, those two words have never before been uttered by an official of the country’s largest bank and mortgage lender, so this is a big deal. Here’s exactly what RBC’s senior economist, Robert Hogue told bank clients in his analysis of what happens next for Canadian real estate:
“We believe that the new measures – that include more stringent and uniform qualifying rules for mortgage insurance across mortgage types – will both speed up and harden the landing that we previously expected to occur in the year ahead, although they are unlikely to cause a crash.”
So, what’s a ‘hardened landing.’ What’s a ‘crash’?