This was achieved when the GVREB compared those very same abysmal February 2012 numbers to that of the absolutely horrendous January 2012 numbers... instead of comparing them to the results of February 2011.
"Risks to the Canadian economic outlook remain elevated owing to the European sovereign debt quagmire, but the continuation of low interest rates is the silver lining. So long as the European debt crisis is contained and a global economic recession avoided, low interest rates will support Canadian home sales and prices - CREA chief economist Gregory Klump"But buried in the article were a couple of real gems.
Tal expects further price declines and that these declines will MORE SIGNIFICANT than what we have already seen?
Pass the popcorn and tell us more!
"This is basically a stagnating housing market," Tal said. "This is not a housing market that is going to be on fire. This is a housing market that you'll see activity moderating and prices actually going down."
"In Vancouver, prices are already falling from sky high levels a year ago, especially in the once bustling condominium market."
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