Toronto Housing Market Implodes: Prices Plunge Most On Record

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I guess the headline speaks for itself. (But, it can't happen here. Toronto is unique Right? They speak Canadian don't they?)

On Thursday, the Toronto Real Estate Board reported that July home prices in Canada’s largest city suffered their biggest monthly drop on record amid government efforts to cool the market and the near-collapse of Home Capital Group spooked speculators.

More troubling than the price drop, however, was the sudden paralysis in the market as buyers and sellers violently disagreed about fair clearing prices and transactions tumbled 40.4% to 5,921, the biggest year-over-year decline since 2009, led by the detached market segment.

http://www.zerohedge.com/news/2017-08-03/toronto-h...