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Originally Posted by Little_Dragon
^^ that article is about a different market area.... but yets, building has slowed some... but in actuallity it is more "normal" now. We have had a boom in building the last 5 years... now we're just slowing to more normal growth. Hopefully prices will stablize a little... (and mortgage rates stop rising)
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Oh, I'm aware of that. I just think that article will be pertinent in the near future. I keep hearing about more and more people who're having their houses forclosed (sp?). Also, talk in the mortgage sector is that we'll see an interest rate hike fairly soon, which inevitably will make for more forclosures or have people selling their houses at a loss. We keep hearing (for about the past 2 years) about how the bubble is going to burst, I think we're almost there.
The US is heading towards a major recession, they've been putting it off with the war on Iraq which is pretty much being funded on the tabs of foreign countries (see China). I think Canadians will feel this too, economically speaking that is.
Although, again, this is just my opinion from what I see and hear. It's very tough to predict the economy.