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B4 - Wednesday, June 27. 1984 - North Shore News

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NEWS photo Stuart Davis
BIOLOGIST Igor Solar feeds small tanks of steelhead for one of the many research
experiments at the fisheries and oceans department. The West Van laboratory, previous-

ly a fish cannery, has been operating since 1970. Recently the lab received $8 million to
upgrade its facilities.

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ALTHOUGH the possibility
of further increases in in-
terest rates is clouding the
residential real estate market,
some realtors remain con-
vinced that home buying ac-
tivity will remain healthy for
the remainder of the year in
most markets.

**We do not think interest
rates will continue their up-
ward trend,’’ says Ozzie
Jurock, vice president and
general manager for A.E.
LePage in British Columbia.
‘*T will be surprised if interest
rates will be allowed to climb
past 15 per cent for a five
year mortgage this year.

In 1981-82 the dramatic
rise in interest rates was fuel-
ed by high inflation. The cur-
rent scenano, with low infla-
tion and relatively high
unemployment, does not
justify increasing interest
rates.

‘‘In addition,’’ continues
Jurock, ‘‘both Canada and
the U.S. are facing federal
elections this year, and it is
highly unlikely that any
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In most areas of Canada,
home buying activity was
very strong during the first
four or five months of the
year. In a number of centres
the number of homes listed
for sale has been in short sup-
ply, putting upward pressure
on selling prices in such areas
as Halifax, Hamilton and
Saskatoon. The incidences of
homes selling the day they are

|| Housing market stable

listed, or selling for more
than the asking price have
not been uncommon.

“With few exceptions,
resale housing markets are
still healthy,’’ despite a slight
softening of activity in some
areas in recent weeks’’ says
Jurock. ‘‘Based on the strong
activity for the first four
months of 1984, we ‘expect
that total sales in Canada will
be up six to eight per cent by
the end of the year, while sell-
ing prices will continue their
firming trend.

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