Canada’s Oil Capitals Are Headed For Their First Housing Correction Since 2008, TD Warns

Canada’s oil capitals are headed for their first housing correction since 2008, TD warns

Home prices in Canada’s oil capitals will suffer a correction this year as plunging oil prices turn the nation’s housing market upside-down, say TD economists. Prices are on track to fall as much as 10% in Calgary, Edmonton and St. John’s Newfoundland over 2015 and into 2016 as the collapsing oil industry hits growth, incomes and…