Sniffing out the truth about the end of the Canadian real estate boom via CBC

Quite fairly, the many Canadians — and foreign investors — who have been making a killing in the country’s crazy property market don’t want the party to be over.

As the Canadian Real Estate Association releases its latest figures on house prices today, showing the average Canadian home was worth just over $500,000 last month, it will be harder than ever for the rest of us to be certain if either the reassurances or the warnings from industry experts can be trusted.

The latest figures show average home prices have declined by about 10 per cent since April, and people in the real estate industry are fond of calling slowdowns like that a “soft landing.”

But whether you are a prospective buyer, a prospective seller, or someone not planning to play in the property market at all it may be wise to take any such comments with a grain of salt.


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