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Analysts are conflicted over the future of the Canadian housing market.
Low interest rates, solid banking platforms, a growing resource-based economy and a relatively conservative mortgage market are credited by some analysts for keeping the Canadian market afloat.
Others say that based on the historical precedent set by the Japanese and American real estate markets, Canada should prepare for a correction.
Globe and Mail columnist George Athanassakos believes that in the event that investment from Asia dries up, Canada will face a severe correction.
