SOFT LANDING FOR CANADIAN HOUSING MARKET!

New data showing a slowdown in Canada's hot housing market was largely expected and this market correction will not have a significant impact on the Canadian economy according to the head of The Bank of Nova Scotia. "There may be some challenges, but because the Canadian economy is so well diversified with a strong national balance sheet it is nothing like what happened in other jurisdictions," said Rick Waugh, Scotiabank's Chief Executive.

Recent government rule changes may be hastening an end to the country's post-recession property boom. The Canadian Real Estate Association forecasts sales will rise only 1.9% this year and decline 1.9% in 2013.

Tricia Greer

Tricia Greer

REALTORĀ®
CENTURY 21 Millennium Inc., Brokerage*
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