The price of housing went up over sixteen percent in the Toronto Canada area last month alone. It has been seriously rising steadily over the last few years. Time to bail out? Or are we on the threshold of a totally new economic reality?

It could be the second issue as I have been looking at building something again. I was more than a little surprised at what it will cost us. Where are the wages and earnings that are driving this? Or is it just credit at low interest rates and easily available being the driving force?

The Canadian government has made efforts several times to slow it down with no results. The big banks are underestimating their losses if the dam breaks. At least to the general public. They could get into very serious trouble. There just is no way to estimate if it is a real bubble or not. Or just the new economic reality.

As of today six large mortgage sources have stopped operations in that market.