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http://ca.news.finance.yahoo.com ... drop-next-year.html
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: \ V5 m( w. ]1 h6 K" LHot housing market to cool, prices will drop next year, TD Bank saysWed May 5, 10:18 AM
# V# i1 o. ^0 S9 ]The Canadian Press
a. O) t" v3 ?6 ] a+ a, KEmail StoryIM StoryPrintable View.By The Canadian Press& J" K; M+ z% t' `8 k
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OTTAWA - 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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e8 s: D' a' i( T% V# QThe 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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The bank says with home construction stronger than expected, the added supply will soon begin affecting prices.
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2 x5 E1 }9 s& G0 w- lThe first half of this year has been hotter than expected, and the second half will be cooler, the bank says.
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: }5 I" x7 W# `5 G4 \TD 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.5 g2 J/ u! {/ q5 `+ p5 _4 P
$ h" N4 M6 ]$ V$ x' H' gThe 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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