Housing correction not in the cards, according to CMHC report

By John Morrissy, Financial Post Full Article
A much anticipated correction in the Canadian housing market is not in the cards, according to a report by the Canada Mortgage and Housing Corp.
In its third-quarter market outlook, the national housing agency forecasts the market will ease slightly but "remain steady"this year and next.
"Housing starts have been strong in the last few months, but are forecast to moderate closer in line with demographic fundamentals," Mathieu Laberge, deputy chief economist for CMHC, said Wednesday. "Despite recent financial uncertainty, factors such as employment, immigration and mortgage rates remain supportive of the Canadian housing sector."
2. B.C. residents have unrealistic hopes of shedding debt, poll finds. Link below.

B.C. residents have high hopes of retiring debt-free, but for many, this reality show has an unhappy ending.
While most B.C. residents believe they'll be debt-free by age 58, fewer than one-third of B.C. residents aged 45 to 64 don't owe any money, according to a Harris-Decima poll conducted for the Canadian Imperial Bank of Commerce.
About one-quarter of B.C. residents report that they've abandoned hopes for a debtfree retirement. Fourteen per cent believe they will pay off all debts in their 70s and one in 10 says they will never be debtfree, the poll found. That compares with only four per cent of Alberta residents who believe they'll carry debt into their 70s.
http://www.vancouversun.com/business/residents+have+unrealistic+hopes+shedding+debt+poll+finds/5326783/story.html