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Canada: Skyrocketing house prices bound to come down, BMO head says

Posted on 21 March 2012

Bill DowneConcerns about the sustainability of the high-flying Canadian housing market are “legitimate,” especially in the largest cities, the head of one of the country’s biggest banks said Tuesday as a price war rages across the financial sector over mortgage rates.
Bank of Montreal chief executive officer Bill Downe told the bank’s annual meeting in Halifax that soaring household debt levels are highlighting the need for a soft landing in the residential real-estate market………………………………………..Full Article: Source


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