Quote:
Originally Posted by Regorium
If you take peak to peak - sure.
If we go by an annual average, then the price between Jan 14 and Jan 2015 has gone up by a couple hundred dollars. My expectation is that when the Jan 2016 numbers come up, it'll be within 5% of the number we see there.
If you cherry pick the very top price, and the very bottom price, and define that as the overall housing market, then sure, a drop of 20% is possible, even reasonable.
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We will see in time. 5% sounds like wishful thinking considering the circumstances, but that's just two different opinions. Interestingly Poloz himself said 20% in his last comment on RE. And the BoC is the ultimate RE cheerleader.