Canada braces as housing slowdown takes hold

Reblogged from Financial Post | Business:

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TORONTO — Long convinced the country’s housing boom would never end in a crash, Canadians have watched this autumn as a sharp slowdown in real estate spreads across the country, leaving would-be home buyers hopeful and sellers scared.

“The power is in the hands of the buyer - that’s what I’m feeling,” said Andria Petrillo, 32, as she and her husband toured a quiet open house in the heart of Toronto, where crowds and chaos once reigned over weekend home showings.

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