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Settle in for long-term housing slowdown, Scotia says

Posted on 19 March 2013

An ageing population and slower economic growth will weigh on the country’s housing market for the next decade at least, Scotiabank, one of the country’s largest home-loan lenders, said Monday. The bank — the latest to offer a dour long-term view of the real-estate market — is bracing homeowners for the slowdown following a 10-year period of explosive price gains fuelled by low interest rates and high demand.
“Looking further ahead, the impact of retirement of the large baby boom generation in slowing labour force growth will restrict the potential growth rate, or speed limit, of the Canadian economy relative to recent decades,” Adrienne Warren, senior economist and the bank’s real-estate specialist said during a presentation at the bank’s Toronto offices………………………………………..Full Article: Source


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