US v. Canada House Prices. A Widening gap. Canadians may apparently be upset about this
In terms of the widening gap between US and Canadian house prices since 2006, this seems to be a strange economic phenomenon.
It is almost as if the US prices are artificially suppressed as both markets appear to have decoupled since 2006. However, the house price widening between Britain and the US is much worse than the widening between Canada and the US.
Tempted to say the market might have to correct in Canada but that seems to be only if you compare it to the US market. The housing markets in Britain and Spain actually moved much stronger than that of Canada compared to the US.
There has to be a variable the explains the pattern and behavior.
http://www.huffingtonpost.ca/2013/04/23/canada-house-prices-us_n_3139918.html
http://www.economist.com/blogs/dailychart/2011/11/global-house-prices