Rosenberg: Toronto housing slowdown is good for economy.

Original article via BNN. Click here to read.

The recent dramatic drop in home sales across the Greater Toronto Area is good for Canada’s economy — and may show the economy is finally moving away from a dependence on the real estate sector, according to Gluskin Sheff Chief Economist David Rosenberg.

“We are going through a natural correction in Toronto real estate. I don’t think it’s going to have a deleterious impact on the national economy.  I think it’s actually going to be a positive development,” Rosenberg told BNN in an interview Tuesday.

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