There are new reports out that the Canadian real estate market is overvalued.  In fact the Canadian central bank has been looking at ways to change this.  The Bank of Canada is looking at property prices and how the went up after the devastating financial crisis which caused borrowing costs to go down.

The bank is working with their partners, the federal government, the superintendent of financial institutions on the situation.  The government has been tightening regulations and keeping a close eye on things – but state they wont intervene unless necessary.