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Canada: Chilled housing market banking on first time buyers

Posted on 18 March 2013

The number of homes and condominiums sold in February is down nearly 10 per cent from February 2012 according to the Ottawa Real Estate Board. Home prices have only dropped slightly by comparison — less than one per cent for residential-class properties.
Last year’s changes to mortgage amortization — the federal government reduced the period from 30 years to 25 — chilled the market, says the real estate board, as did the fear of government job cuts, which continue to loom………………………………………..Full Article: Source


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