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Hot housing market to cool, prices will drop next year, TD Bank saysWed May 5, 10:18 AM4 Q+ S7 ~0 r2 }3 F. k4 y
The Canadian Press
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" X$ x: W( ]5 b1 x% lOTTAWA - The TD Bank says home sales will be significantly lower in the second half of this year and next — and prices are dropping too.; }, [& I5 t8 i" b9 N+ ]4 R
; z8 W5 o& Q/ O& l# b/ 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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- S- o7 U2 Y2 z" X) ^The bank says with home construction stronger than expected, the added supply will soon begin affecting prices.
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j% M2 U& M* B5 d' K* e4 L1 z- sThe first half of this year has been hotter than expected, and the second half will be cooler, the bank says., L; R4 h* j6 P! d6 ~5 y! v
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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.
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The 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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发表于 2010-5-5 07:46
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