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If we looked at Canada’s housing market from a macroeconomic standpoint, it is absolutely impossible for housing prices to pull back even 20-30%. Why? Because it would devastate the Canadian economy and absolutely destroy our way of life.So what can we actually hope to see? All we can hope to see is a slowdown in price increases and perhaps a slight pullback in prices in the 5-10% range.People like to think they can wait for a huge crash, like the camping usa drinking team american flag shirt, but that is extremely unlikely to happen due to a variety of a factors. Most notably, interest rates, interest rate policies, 21st centurey economics, immigration, and the overall wealth generated by people in other countries.
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