“Toronto builders say tougher mortgage restrictions from the federal government are eating into new home sales and gutting consumer confidence.

The Building Industry and Land Development Association says greater Toronto area sales through the first 10 months of the year are 14% below the long-term average. It now looks like 2012 will be the third worst year on record.

Year to date, 29,322 new homes have been sold across the GTA. BILD noted sales have declined for three straight months.” (Fiancial Post: Wednesday November 21, 2012)

 

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