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Scotiabank CEO sees Canadian housing slowdown, not crash

Posted on 10 April 2013

Bank of Nova Scotia Chief Executive Rick Waugh said on Tuesday that mortgage delinquencies have risen at Canada’s third-biggest bank, but that he does not foresee a U.S.-style housing crash. “We still anticipate what I would call in terms of housing, a soft landing, and all the metrics which we watch daily confirm that,” Waugh said.
His comments, part of an answer to a shareholder question about risks for the bank from the domestic housing market, came as data showed Canadian housing starts edged higher in March, offering some reassurance that the housing market is cooling rather than crashing………………………………………..Full Article: Source


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