The housing market warnings are everywhere. Housing starts were down 19 per cent in January, and off 30 per cent from their peak just five months ago, while residential building permits dropped 11 per cent in December from November. Sales of existing homes were down 5.2 per cent in January compared to the same month last year. The softer economy, along with the government’s tighter mortgage rules, are hurting the demand for homes and decreasing the incentives for builders.
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