RBC economist: Canada has a 'two-speed if not multi-speed market'

Economic policies that apply to the whole country do little to curb the hottest real estate markets, and Ottawa seems reluctant to meddle too much anyway.

Royal Bank of Canada chief economist Robert Hogue says that a “two speed if not multi-speed market is likely to be the central theme for the year.”

In an interview with The Globe and Mail Hogue says that the federal government appears to be focused on reducing the exposure of federal agencies to the mortgage and housing market rather than affecting house prices too much.

Further insight into the market is due this week with the Teranet-National Bank Home Price Index due Wednesday and national resales report from the Canadian Real Estate Association on Friday.

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