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OTTAWA _ The number of homes sold in September climbed for the second month in a row after a slowdown earlier this year that was led by a cooling in the Toronto market.
Canadian Real Estate Association said Friday sales through its Multiple Listing Service in September were up 2.1 per cent compared with the previous month. The increase followed a 1.3 per cent increase in August.
TD Bank senior economist Michael Dolega said unlike the gain in August, that was driven by Toronto, the increase for September was more widespread.
But he noted rising interest rates and coming regulatory changes, including a potential new stress test for borrowers with uninsured mortgages, could impinge on the housing market.
“Having said that, after some near-term weakness, likely to last into mid-2018, activity should begin to rebound thereafter given the fundamentally supported demand related to strong job growth and strengthening wage dynamics,” Dolega wrote in a note to clients.
Home sales in Canada had been slowing this year following changes by the Ontario government aimed at cooling the Toronto market…

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The Democrats risk becoming the party of plutocratsCo-Founder of Advanced Energy Economy Tom Steyer speaks during day two of the Democratic National Convention at Time Warner Cable Arena on September 5, 2012 in Charlotte, North Carolina. (Alex Wong/Getty Images)
Jason Linkins is a writer who covers American politics and the media. He previously served as a columnist for The Huffington Post in Washington, DC.
If you’ve ever had cause to wonder why America’s democratic institutions seem so hopelessly adrift these days, you need only consider the people who are currently running the show. No, not the Trump administration: long before America ended up with an “unraveling” chief executive, spurring fears of nuclear war, presiding over an administration that includes three men said to be in a “suicide pact,” we welcomed the plutocratic takeover of our politics, led by the original dotards: a cadre of dodgy, king-making billionaires with outsized power over the rest of the population.
Vox’s Ezra Klein has a succinct metaphor for where America finds itself right now: “The Doom Loop of Oligarchy,” in which massive wealth purchases great political power, which is then wielded in such a way as to yield more massive wealth, and so on…

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