Ontario house prices set to follow Western drop

[licious]

This doesn't make sense. I think they mean less painful? How can price not rise much but fall more than others? I thought it's "the taller you are the harder you fall"?

Didn't really make much sense to me either, but I'm guessing because we haven't had the same run up in prices, a relatively small price decline would really hurt us? i.e. some parts of western Canada had YOY increases of 30% or more... so a mere 9% drop still leaves them in a great position... while here, our price increases were more modest so any decline could really hurt?

Either way, I think anyone who is expecting a major drop in housing prices (especially in Ontario) may very well be disappointed. I think we are headed for a number of years of flat house prices and perhaps slight declines in real terms.. however, those waiting for a 30% discount can keep dreaming.

 

[lordmandeep]

that is possible, but it all evens out as we will have smaller drops of around 0-3% at most...