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Broker brace for 25% price correction

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Mortgage Broker News | 21 Sep 2012, 11:00 AM Agree 0
There are gloomy forecasts and then there are gloomy forecasts, with a new economic report predicting a price correction nearly twice as deep as others for the Canadian housing market.
  • AMP Broker | 22 Sep 2012, 05:36 AM Agree 0
    Its not the price its the turnover that counts for brokers.
  • Guy Lew | 22 Sep 2012, 06:40 AM Agree 0
    I think instead of blanketing the whole entire Canada, Capital Economics should be specific in what type of markets could potentially drop by up to 25%. Certain provinces such as Alberta are doing quite well, thank you. If you start taking rural small towns in northern BC or fishing villages in Nova Scotia, I could see a 25% drop in slow moving markets with limited buyers. If Toronto drops by 25%, there be a buying frenzy and drive the prices back up.
  • Christopher | 24 Sep 2012, 11:20 PM Agree 0
    I was a bank lender near TO in the eighties and saw a healthy drop in market values. A correction in any market is necessary from time to time to get values back to where they can be sustained.
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