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BC property prices a lesson for provinces
The slump in British Columbia`s real estate market serves as a cautionary note for other provinces that are bracing for bumps in economic growth.
When homes slip in price, consumers rein in spending, producing a ripple effect on local merchants and slowing down the broader economy.
Jacques Marcil, senior economist at Toronto-Dominion Bank, points to British Columbia as a signpost that the rest of the country should pay attention to because the province`s average resale home prices have fallen this year ` the only province experiencing a decrease from last year`s average.
Read the full article here.
The slump in British Columbia`s real estate market serves as a cautionary note for other provinces that are bracing for bumps in economic growth.
When homes slip in price, consumers rein in spending, producing a ripple effect on local merchants and slowing down the broader economy.
Jacques Marcil, senior economist at Toronto-Dominion Bank, points to British Columbia as a signpost that the rest of the country should pay attention to because the province`s average resale home prices have fallen this year ` the only province experiencing a decrease from last year`s average.
Read the full article here.