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Bank of Canada issues harsh warning on condo market add to …

Posted on 07 December 2012

The Bank of Canada issued a harsh warning today about overbuilding of high-rise housing, notably condos. “In the current context, a specific concern is that the total number of housing units under construction has been increasing and is now well above its historical average relative to the population,” the central bank said in its financial system review.
“This development is entirely accounted for by multiple-unit dwellings (which include condominium units), especially in major metropolitan areas.”……………………………………….Full Article: Source


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