Canadian
04-21-2009, 04:06 PM
The Toronto Real Estate Board have released their mid-month stats and things doesn't look good. Prices in 416 area code are down 9% year-over-year. As with most downturns, this one is starting out slowly, and I expect to see the decline to accelerate in the next 2 years. I won't be surprised to see prices in April 2010 to be 12-15% down compared to current prices and then another 15%-20% slide from 2010 to 2011. This will be between 37% and 45% slide from the top. But Toronto is special and this cannot happen here, right :p?