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Wednesday, February 27, 2013

Bloomberg: Canada Losing Debt Halo as Bull Market Housing Peaks With Carney

"Payback Time: “We basically borrowed our way out of this recession,” Tal says. “Now, it’s payback time. We will be in for a period of long, slow growth.”

Toronto is awash in real estate. There were 144 skyscrapers under construction in late February, more than in any other city in the world, according to SkyscraperPage.com. Proposals for new condos reached 253,768 units at the end of the fourth quarter, up 10 percent from a year earlier, Toronto-based research firm Urbanation Inc. says. Four luxury hotels, each featuring condos, have opened in the past two years."

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H/T Ben Rabidoux 

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