It's incredible what Canadians will let themselves believe.
I have compared the Canadian real estate market to the real estate market in Germany before and the verdict was clear. Canada has a housing bubble.
Today, let's take a look at home prices in the true north and home prices of our neighbours below for comparison. I have used two different data sources, one from the OECD, and one from the Dallas Federal Reserve Bank. Both data sets paint the same picture: the Canadian housing bubble exceeds the US real estate bubble in terms of price appreciation.
The graphs below require no further comments.
Note: The two graphs above are based on data from two different sources, using different methodologies. Yet they both come to the same conclusion.
See also: Canadian Housing Bubble - Charts, Facts, Opinions
Is There a Housing Bubble in Canada?