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In its latest quarterly economic forecast, TD Bank said that while housing investment currently remains strong, "the party will come to an end."

TD pointed out that the Canadian housing situation is one of three stories: red hot Toronto and Vancouver; weak Alberta; and the rest of the country somewhere in-between with little or no growth in house prices.

Exactly when that housing market correction will happen remains difficult to predict, economists at the bank said.

In the second half of this year, resale activity and price growth are expected to cool as borrowing costs rise and "stretched affordability" put a crimp in both domestic and foreign housing demand.

 "However, barring significant new government regulatory measures to curb housing market speculation later this year, more concrete signs of a housing market slowdown are unlikely to be seen until 2017," TD said. "Even then, there tends to be a lag before weaker resale demand translates into a moderation in building activity."

 The note of caution on housing is part of the bank's broader outlook for the Canadian economy, which started the year "with a bang" but is expected to pull back in the quarter that wraps up at the end of June.

 The impact of the Fort McMurray wildfire, which dented oilsands production, means the national economy is now expected to grow by 1.3 per for the year, TD said. Back in March, the bank had forecast overall growth for the year of 1.9 per cent.

 The Fort Mac fire also served to exacerbate the economic gap between Alberta and the robust economies of B.C. and Ontario. However, TD sees Alberta eventually bouncing back.

Simon Fraser
Market Update

Simon Fraser Condos

Altaire by Polygon

Altaire built in 2008/2009 reaches higher then any other condo building in Metro Vancouver offering panoramic views.

Novo I by Intergulf

Novo I built in 2007 known for the amazing sight lines and views from most units and balconies up to 1000 sq ft.

Novo II by Intergulf

Novo II built in 2007 known for the amazing sight lines and views from most units and balconies up to 1000 sq ft.

Aurora by Polygon

Aurora built in 2006 with 103 condos featuring 36 unique floor plans ranging from 715 sq ft to 1500 sq ft.

One University by Millennium

One University built in 2005 is UniverCity's flagship building with luxury homes featuring semi private elevators.

Harmony by Polygon

Harmony built in 2005 was the first condo development at Univercity & as a result offers a unique setting & views.

Serenity Townhomes by Polygon

Serenity is a collection of 2 bedroom townhomes of 1100 sq ft ranging to 4 bedroom 2000+ sq ft townhomes.

The Hub by Liberty Homes

The Hub built in 2009 is set atop Nester's Grocery and steps from High Street giving these homes an urban feel.

Verdant by VanCity Enterprises

Verdant is a two storey town home building built with environmental design and stylish living spaces which complement the modern exterior of these SFU homes.

Origin by Porte Development

Origin is designed by GBL Architect & BYU Interior Designs, developed by Porte Development Corp. and marketed by Red Dot Real Estate.

Nest by Mosaic

Located on UniverCity High Street across from the new University Highlands elementary schools this refreshing building will add further depth to a growing community.

Highland House by Liberty Homes

A 12-storey concrete high-rise development and targeted towards Rental Investors and First-Time Condo Buyers.

Lift by Porte Development

Lift will be a wood frame building comprising of 56 homes. Building technologies, environmental features, and price points should be similar to Origin.

Altitude by Hungerford Group

Altitude will be a 2 tower development comprising of a 12 and 14 story building with a total of 210 strata units.

CentreBlock by Liberty Homes

CentreBlock at UniverCity atop Burnaby Mountain is the latest condo project with sales commencing early 2014. .

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