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Canadian home prices rise in Feb to fresh high: Teranet


Canadian home prices rise in Feb to fresh high: Teranet

By Andrea Hopkins TORONTO (Reuters) - Canadian home prices rose in February, pushing a national index of prices to a record high for the second month in a row, the Teranet-National Bank Composite House Price Index showed on Wednesday. Price increases are still outpacing income gains by a wide margin in many markets, a situation we deem unsustainable in the longer run," TD Economics analyst Sonny Scarfone wrote in a research note. Canada's housing market has remained stubbornly robust in recent years, notwithstanding a slowdown in 2012 when the federal government tightened mortgage lending rules to prevent home buyers from taking on too much debt to get into the market. While some observers fear the booming housing market - prices rise 26 percent in the last five years, according to the Canadian Real Estate Association - could crash like the U.S. market did in 2008-2009, most economists expect a gradual cooling in demand and prices as mortgage rates rise.


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