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Ontario's new housing rules seem to have had some effect.
Toronto house prices could be coming down soon, Capital Economics predicts.
The Red Pin
The average mortgage payment for new loans jumped 4.6 per cent in the past year.
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Incredibly, there are still bargains to be had in some places.
Bank of Canada
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A strong economy can't explain the Toronto region's house price growth, the bank says.
Montreal home sales have jumped to their highest level since before the financial crisis.
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Sales fell 20.3 per cent last month, but prices are still higher than a year ago.
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Soaring housing costs are a potential threat to Toronto's economy, the city's board of trade says.
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The international bank is raising the alarm about a possible housing market correction in Canada.
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"The frenzy is over .... Sanity is returning to the marketplace."
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