In a recent article on the site Storeys.com, Alberta Central Chief Economist Charles St-Arnaud noted that he, like many other national economists, predicts a decline in the housing market in 2023.
He noted that the biggest determinant is whether inflation will be tamed by the rising interest rates as a reduction in inflation will mean a reduction (or maintenance) of interest rates.
Charles St-Arnaud, Chief Economist for Alberta Central, maintained that “inflation is likely to remain sticky,” which is why reaching the target for inflation likely won’t be achieved until next year, or later.
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