The price of new homes in Toronto and Vancouver dropped in October, resulting in the largest monthly decline in the Housing Price Index countrywide in 15 years. Meanwhile, retail sales were tracking up 0.4 per cent to $66.9 billion in September compared to the previous month. (The Logic)
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The price of new homes in Toronto and Vancouver dropped in October, resulting in the largest monthly decline in the Housing Price Index countrywide in 15 years. Meanwhile, retail sales were tracking up 0.4 per cent to $66.9 billion in September compared to the previous month. (The Logic)
Talking Point: Toronto and Vancouver builders have offered cash incentives and design credits to try to spur new home sales, Statistics Canada said. In the majority of markets, new home prices are tracking downward compared to last year. On the other hand, improvements in core retail were driven by people shopping more at supermarkets and grocery stores. The cost of food and housing has been a central challenge for the federal government, which has struggled to lower food costs and increase housing stock.
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