Canada’s existing home sales fell 3.2% in October compared to September, according to the Canadian Real Estate Association. No big deal right? After all housing sales were brisk through the summer and bigger picture-wise Canada’s housing market has been on a near-constant upward trajectory since 1997, hitting all-time highs on a regular basis.

The prices of the house in Canada increased steadily, especially in recent years. The most obviously example is the housing price in Vancouver. Increasingly immigration cause the huge needs of housing, and this is one of the most important reason to explain the high housing price.

With the economy increasing, people can earn more money. And high living standard lead people trendy houses.

The other reason is that  most business man want to buy houses and sell to others, so they can earn some from buyers. And it is also called “black market” in econ101.

House price is hard to be controlled because the houses are not direct belong to the government but some individuals. And the high price is caused in a long term but not short term, so it is hard to be controlled.

source:  http://www.bnn.ca/News/2013/11/15/Housing-Story-RAW.aspx