[Travis Munroe]

Originally Posted by JRW

No Kavvy, I wasn't wrong, I just don't feel like doing your research for you. You have internet, use it.

OK here, I'll find three links for you in 10 mins.

Canadian home prices are overvalued by 63%, Deutsche Bank says
http://www.bnn.ca/News/2015/1/8/Cana...Bank-says.aspx

Housing market overvalued by as much as 30%, BoC says
http://www.theglobeandmail.com/repor...ticle22021768/

When the Bubble Bursts: Surviving the Canadian Real Estate Crash. The Edmonton-based portfolio manager is predicting a 50% decline in prices from current levels.
http://business.financialpost.com/pe...ational-level/

There are of course other lower predictions.

Personally I think somewhere in 20 to 30% range is likely.

Other notable quotes from the articles

BNN

63% number comes by taking the average in home prices relative to income and home prices relative to rent. I personally would like to see a more complex equation and perhaps proof that the theory of this basic equation has been supported in the past.

Globe & Mail

Mr. Poloz said the central bank still anticipates a “soft landing” in housing, as economic growth and rising incomes gradually catch up to today’s high home prices.

“We thought we would have an opportunity during the downturn, and we were kind of waiting for the perfect window and then it never happened,”

Financial Post

The problem is he’s hardly the first person to make the call. And none of them has been right, while the people calling for a soft landing look increasingly accurate in their forecast.

The IMF said this week prices were up 60% during the past 15 years, on an inflation-adjusted basis, and the group is sticking with a call that prices could correct anywhere from 7% to 20%