I am mainly talking about GTA/Vancouver area where majority of immigrants come in, for price appreciation. Also, for places where prices have come down 30%, is now a good time to buy??? or should they still wait next xx years?? You answered your own question Mr. Investment banker!. You have multiple properties in Canada, if you so believe that its not a good time to buy as prices will crash, then you should sell all your properties. As a 30% fall will take a long time to recover, then the rent you get out of them. It seems interesting that you have many properties here and are telling people to not BUY! Did you loose out on that 30% loss or do you have properties in GTA/Vancouver area?? Lastly, BOC rates have an direct influence on Prime lending rates. As an IB, I am sure you can see if there is any correlation between the 2 or now. I can bet, you will find a strong positive correlation. And BOC have reduced rates drastically over the last decade, ever since the recession hit.