It’s been about ten years since America’s real estate market has been at its highest, meanwhile Canada’s real estate market has been the hot, real and major topic despite the talk about the Canadian government creating regulations to cool house and property prices in the real estate market. Although, there have been warnings about there being raised levels of debts from households. This is due to the fact that some provinces on the southern part of Canada have been going through.
Most economists and their analysis do not see Canada going through a U.S house like crash. It is believed that even though the growth of prices for properties and homes has decelerated instead of accelerated, Canada will still not face a crash like the US did in its housing market.
Some observers are more pessimistic than others. Some predict a fall in Vancouver’s house prices. Some strongly disagree with this but agree with the notion that Canada’s housing market will only suffer a little reduction in its house prices but nothing that will cause it to crash.
Canada’s prices right now for its properties and housing is way higher than America’s prices of property and real estate during its peak/boom. This was very surprising to most economists. This just shows that Canada’s prices are just way higher than America’s prices. But this may also be due to the fact that the rate of the dollar has changed rapidly over the years, so obviously the rate of the dollar must have changed within a decade. Many believe this is the right reason for the high difference in price within the decade.