Monday, August 20, 2012

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HERE we go again!

Housing market crash not in cards for Canada - Canada Mortgage and Housing Corp

Canada Mortgage and Housing Corp. is forecasting a moderate slowdown in new-home construction starts as well as sales of existing housing. The Ottawa-based federal agency isn’t calling for a major decline, but its latest forecast suggests next year will be somewhat softer than estimates CMHC issued in June while 2012 may be somewhat stronger than previously expected.

National Post   Tue Aug 14 2012 - Globe and Mail - Toronto Star

Canadian home prices falling steadily - Canadian Real Estate Association

Home prices continued to decline across the country in July, according to Canadian Real Estate Association data. The Ottawa-based group said the average price of a home sold last month was $353,147, a decline of 2 per cent from a year earlier. The year-over-year decline in June was 0.8 per cent. 'Prices are off their recent peaks in Greater Vancouver and Greater Toronto, but remain above year-ago levels...

National Post   Wed Aug 15 2012 - CBC - The Province - Edmonton Journal

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