Either way foreign buyers and speculators ditched this market and dumped their properties. There are dozens of other countries ripe for real estate increases, while Canada looks tapped out. Sorry homeowners. Maybe when you read the headline that inventory is up 40% in May, and sales are down 30%, coming into June, where sales will be down 45% and inventory will be up another 40%. Ouch. 

It's cracking. Speculators are not coming back for a while. Sorry but housing and mortgages are cruel cruel investments as are all leveraged speculations. Low interest rates aren't going to make people jump in front of a falling rock - if people think homes will be $200 or $300K less in Ontario in 2 years. That would bring us back to just 2014. Ouch. And they were super high then too.