This year is going to be all about up-and-down-and-up-and-down. The bears may end up having their way but really - who the hell knows. Our market is defying odds right now with (finally) property coming out that is suitable for buyers, and condo prices are seeing 2009 levels. Maclean's came out with a pre-emptive strike announcing a CRASH and BURN. I say, BULL and SHIT. One of the, if not the best Realtor blogs is @urbaneer, and his piece now is relevant - and indicative of what is going on in the trenches. It's Cold! It's Hot! - Urbaneer - Toronto Real Estate, Condos, Homes is where it's at. Certainly the new mortgage rules have had some effect on the market but 91% of buyers can still afford under the new regime. What is too bad is the refinance rules are pushing people to borrow in high-interest facilities vs using their home equity - but then again the cycle hasn't stopped before so perhaps the only way it can is if the Government can push people to the brink (and back).