Despite concern that overbuilding of condos could pose a risk to the housing market, especially in Calgary; the Royal Bank of Canada says that the probability of a nationwide downturn in the housing market is low.
In its latest health check RBC says that in the near term there are downside risks for the housing market in Alberta and other oil-producing regions and rising unemployment is also a concern.
High prices in Vancouver and Toronto and government policy are also highlighted as posing risk but RBC does not expect interest rates to be increased.
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