Canadian new-home prices fell for the first time in 13 months in July by 0.1%, according to The Globe and Mail (via @pkedrosky). Statscan suggested that the price slide may be a result of the introduction of the new Harmonized Sales Tax.
While this might seem like a tiny fall, it is certainly an event many bubble prognosticators have been looking out for.
As a reminder of the sector’s growth in Canada, check out this chart from Paul Kedrosky.
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