"While that might put peak price growth behind us, the question is how much the market will cool from the unsustainable 30-per-cent-plus pace, and how long the adjustment will persist,” he said in a statement."
How the country is growing 2% overall when the most populous region by far grew at 30% last year, and nowhere noteworthy is going down. 6.5M/36M x .3 = 5.4% national growth just from the GTA. We also have no inflation in Canada despite housing affordability being a major issue.
What 30% pace? Real growth has been 1.6% per annum. Now I'm absolutely certain you are confusing Toronto with the rest of Canada. The vast majority of Canadians don't live in Toronto. It is not representative of anything related to Canada as a whole.
> How the country is growing 2% overall when the most populous region by far grew at 30% last year
You're going to have to ask CREA, the official source for home prices in Canada. That is what they have reported. I can only go by what they have given.
If we can believe Zolo, who isn't exactly official but provides more comprehensive data: Toronto has declined by almost 8% in the last quarter and is barely up at all over the past year. Are you sure about this 30% YoY? Perhaps you're looking at the wrong period?
https://www.theglobeandmail.com/real-estate/the-market/canad...
How the country is growing 2% overall when the most populous region by far grew at 30% last year, and nowhere noteworthy is going down. 6.5M/36M x .3 = 5.4% national growth just from the GTA. We also have no inflation in Canada despite housing affordability being a major issue.
Your guess is as good as mine.