Oil capitals face housing correction says TD

Oil capitals face housing correction says TD

Oil capitals face housing correction says TD Calgary, Edmonton and St. John’s, Newfoundland are set to be hit by a housing correction over the next 12-18 months as the oil industry’s decline filters down to consumers. TD economists believe that prices may decline by as much as 10 per cent through into 2016, wiping out the gains made last year in Calgary. St. John’s was already in the midst of a housing downturn which would be exacerbated by the oil-related correction. Read the full story.