[honkdaddy]

As a Canadian currently living in the States, I think it's worth pointing out that our housing market is currently one of the most inflated in the world which affects nearly every facet of economic life for Canadians. Every day there's increasing pressure on the provincial and federal governments to somehow settle down the price of housing.

It will take time, but I'm confident things will change.

[gonzo41]

I'm Australian and we have the same problem. I lay blame on the banking sector for being unwilling to engage in small business risk and thus causing most small investor money to flock into real estate. Whilst OP talks about year on year 'gains'. You have to sell to see them, and then you're just buying in the same market. Though, the access to equity is not nothing.