Affordability was the elephant in the room at the annual Urban Development Institute (UDI) forecast luncheon on January 18. While few panellists mentioned it by name, its shadow fell across the conversation moderator Jon Stovell of Reliance Properties Ltd. had with Ward McAllister of Ledingham McAllister, Todd Yuen of Beedie Industrial and Kevin Layden of Wesbild Holdings Ltd.
Layden was the most blunt in his forecast for real estate in 2018.
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“We’re running out of momentum,” he said. “Every aspect, whether it’s interest rates or demand-side measures, is going to slow us down. I think it’s just a question of time.”