Here is how average house prices have climbed in Eastern and Central Canada since 1990.
we see that many cities took a beating when we adjust for inflation. And if we take a quick peak at the National average ( adjusted for inflation) it looks like a "soft landing" from 1990 to 2000 but in reality it was the lowering of interest rates as to what cushioned the Canadian real estate market when it came in for a "soft landing" during the 90's.
There won't be a lowering of interest rates for a "soft landing" this time. Where is the Bank of Canada gonna go this time? Negative interest rates?
House Price To Income
Here is the house price to income for select cities across Canada since 1990 to 2009.