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http://ca.news.finance.yahoo.com ... drop-next-year.html
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4 j2 v6 w/ H5 V w; | D1 _Hot housing market to cool, prices will drop next year, TD Bank saysWed May 5, 10:18 AM
3 L. W) ?! Y4 I9 z0 ?, R5 yThe Canadian Press 6 T3 z) V9 \$ ^3 s2 m2 J9 k% q# d
Email StoryIM StoryPrintable View.By The Canadian Press
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4 i# `; A6 }- a8 y* O# k* V7 T+ w1 ~) DOTTAWA - The TD Bank says home sales will be significantly lower in the second half of this year and next — and prices are dropping too.
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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.' p6 W( w( ^1 z! d5 @' p
# H9 \% ]; S) n1 `* j( {The bank says with home construction stronger than expected, the added supply will soon begin affecting prices.! q6 l) D) I$ F( {3 Y
( \3 A0 ]& f% ?3 F; e" `, \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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: n4 k- P; f4 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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- k! I/ j s+ t( WThe 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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