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Home Economics Canada’s Oil Capitals Are Headed For Their First Housing Correction Since 2008, TD Warns

Canada’s Oil Capitals Are Headed For Their First Housing Correction Since 2008, TD Warns

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Canada’s oil capitals are headed for their first housing correction since 2008, TD warns

Home prices in Canada’s oil capitals will suffer a correction this year as plunging oil prices turn the nation’s housing market upside-down, say TD economists. Prices are on track to fall as much as 10% in Calgary, Edmonton and St. John’s Newfoundland over 2015 and into 2016 as the collapsing oil industry hits growth, incomes and…

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