Dismissing the housing risks is all the rage in Ottawa circles these days… but, some saying that the real-estate market headed for a big correction after 11 consecutive months of sales increases…

(Source: Canada.com)

The heated debate about whether the Canadian housing market is in the midst of a bubble is likely to continue this year thanks to December sales that set a new record for the month.

Listed existing homes recorded their best December ever as the recovery in the Canadian housing market saw sales climb 7.7 % last year from 2008, according to the Canadian Real Estate Association. Despite the impressive rebound, the 2009 market saw a decline of 10.7% from the record-breaking pace set in 2007.

Read Gary Marr’s full article “Housing bubble debate is far from settled” in the Nanaimo Daily News (January 18, 2010).

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