TD Bank is “out of touch” with housing market in Newfoundland and Labrador

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A recent report by TD Bank that house prices in the Newfoundland and Labrador would fall by up to 10 per cent has been challenged by a local CHMC analyst. Chris Janes says that the bank has no local intelligence on the ground as the CHMC does and he predicts that prices should remain stable. TD, along with finance minister, are basing forecasts on a declining oil industry but production in the province is largely unchanged. Janes told CBC that employment was the key driver for the housing market and people are still employed. Read the full story.

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