Home Prices to Fall?

Home prices to fall, TD warns The economists report says the average price of a resale home in Canada will fall by more than 10 per cent over the next couple of years, as well as predicting sales will decline by more than 15 per cent over the same period. While this sounds ominous, last week economists inaccurately predicted new US job numbers to come in at 200,000 whereas reality produced only 18,000.

 

Moral — With Flaherty cutting back refinancing to 85% in recent months and the high potential of values/prices dropping in the next year or two, now is the time to refinance and pull out equity.

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