Canada's Housing Market in Free Fall: A 5-10 Year Recovery Ahead

Canada's housing market has been in a correction for 3.5 years, with home prices grinding lower. Sales are low, buyers are in no hurry, and sellers are reducing prices. According to Bank of Montreal's Robert Kavcic, it may take 5-10 years for prices to recover to 2022 levels, making the housing market "pretty-much dead for now." The correction is tracking closely with previous major housing busts in Canada and the US.