House Prices

house prices: Many say the signs are already evident home sales are slumping, demand is down and housing prices will likely follow suit. As for when, how far or how hard prices will fall, that still remains a guess. Check out our interactive map tracking house prices across Canada, according to CBC. The OECD report used two housing measures the price of the average home compared to what it could be rented for and the home costs compared to the average salary and A recent report from the Organization for Economic Co-operation and Development that revealed Canada has the third most overvalued real estate in the developed world offered few surprises for analysts who say the market is heading for a price correction. "The housing market is an accident waiting to happen. If there is some sort of macro shock, there's a lot of dead air where house prices are now and where historically they should be," said Ben Rabidoux, creator of the blog Economic Analyst, which looks into housing and mortgage trends. "And there's a sort of saying that a market waiting for an accident to happen usually finds its accident. And that's how I would describe it." (www.immigrantscanada.com). As reported in the news.