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At bank of Canada, all eyes on housing market

Posted on 16 April 2013

When Finance Minister Jim Flaherty tightened home lending standards last year, Bay Street economists shrugged. It wasn’t the first time Mr. Flaherty had attempted to deflate the housing bubble. Nor was it the second or third. That was enough history to suggest a cycle.
On all previous occasions, sales immediately jumped as buyers rushed to beat the new restrictions. In the next phase, demand cratered when the stricter lending conditions kicked in. Finally, sales popped back up once potential buyers realized that interest rates still were at once-in-a-lifetime levels………………………………………..Full Article: Source


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