Pune is also quite popular as a religious destination due to the presence 2007 runescape gold of Sri Balaji Mandir, Shreemant Dagduseth Halwai Sarvajanik Ganpati, Bhuleswar and Bhimashankar temples. These religious spots in the city attracts tourists and devotees from all over the planet. A number of adventure sport theme parks like the Manas holiday resort and Adventure and Krishna Water Park add to the city's attractions..
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"A combination of more subdued job and household income growth, rising interest rates, the recent tightening in borrowing rules for insured mortgages and fewer first time home buyers are expected to be the chief culprits behind the slowdown," said the report, prepared by deputy chief economist Derek Burleton and economist Sonya Gulati.But the national numbers will hide considerable regional differences,
they added.Vancouver, which they describe as "the poster child for those individuals worried about a real estate bubble here in Canada," is destined for a thumping 25.4 per cent peak to trough decline in sales activity and a 14.8 per cent drop in prices.Toronto will also be among the hardest hit. Burleton and Gulati expect a gradual correction in sales on the order of 25 per cent over the next seven to eight quarters and a price decline of 11.7 per cent,
"as the number of first time home buyers and investors settle back down to more normal levels."Prospects are "considerably better" for housing markets in Calgary, Edmonton and Regina, the report said, although it cautioned that means price and sales activity declines will merely be less pronounced.In Calgary, sales are expected to decline 8.8 per cent from peak to trough over the two year outlook and prices are expected to dip 6.4 per cent.In Edmonton,
sales are expected to drop 9.5 per cent from peak to bottom and prices to fall 6.6 per cent.In Regina, sales are forecast to edge down 3.8 per cent and prices by 6.1 per cent.In the immediate future, TD expects demand to be supportive and that the brunt of the adjustment will take place in 2012 and 2013.Over the forecast period, the report said the market will be constrained by national economic growth that is expected to slow from 2.8 per cent in 2011 to 2.3 per cent in 2012
and 1.9 per cent in 2013.As well, personal disposable income will remain subdued, while job creation is anticipated to slow from 1.7 per cent in 2011 to 1.2 per cent over 2012 13."With the forecast growth performances below historical trends, economic activity should not generate enough momentum to sustain above average price and sales gains," Burleton and Gulati wrote.One of the key reasons is rising interest rates.
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