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http://ca.news.finance.yahoo.com ... drop-next-year.html
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Hot housing market to cool, prices will drop next year, TD Bank saysWed May 5, 10:18 AM
/ D( e/ |2 _* g7 k" k- i* b0 ~The Canadian Press
Z1 N4 V6 _. k% m% C& oEmail StoryIM StoryPrintable View.By The Canadian Press& y: D& {& S c' f4 a' m: d9 q6 H& @
3 H# h+ Q0 r* ]$ U* BOTTAWA - The TD Bank says home sales will be significantly lower in the second half of this year and next — and prices are dropping too." i8 L: z$ s- R) |
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The new outlook is in accord with previous expectations, with the exception that TD now believes the slowdown from the current hot housing market to be sharper.
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. [0 J1 o9 o v- H0 eThe bank says with home construction stronger than expected, the added supply will soon begin affecting prices.+ l3 X1 i0 S: Q* B1 o& q, s6 \, t% Y
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The first half of this year has been hotter than expected, and the second half will be cooler, the bank says.
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0 z/ Y0 ?* B: l' T* _( p6 }, CTD says it had expected existing home prices next year to gain a modest 1.6 per cent, but now believes they will actually fall about 2.7 per cent on average.
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4 ~0 } I8 h" W5 E' eThe bank says prices will drop next year in seven of Canada's 10 provinces, with the three prairie provinces breaking the trend. |
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