Housing Bubble?

So I hear on the news that Canada may be on the verge of a housing bubble. "Could this mean that Canada's housing market is going to tank like our friends to the south?" Well for one thing, the housing market in Vancouver is different than the housing market in Regina, which is different than Toronto, which is different than Halifax. Let's get that straight. Now, as a whole, the Canadian housing market is inline with the 10 year average for sales. This is based on national statistics and this is one of the messages that the Canadian Real Estate Association representatives took to our Members of Parliament this past week in Ottawa. I am a Political Action Committee representative for my local real estate board. We talked to our MPs about indexing the Home Buyers' Plan and issues about Capital Gains Tax. I must say that we were well received at Parliament Hill. Plus the weather in Ottawa was beautiful, and hanging around our nation's capital helps build up that patriotism!