Read this recent message sent by Ms. Ann Bosley, 2007 CREA President, to all Canadian Real Estate boards and Associations;

Click here here for full report and statistics

January 23, 2008

Attn: Boards and Associations

The Canadian Real Estate Association today issued the attached news release to provide a dose of "economic reality" about the housing market in Canada. Events of the past week, including use of the R word in the United States and record swings on the stock markets, have again generated media speculation about our housing market. Analysts continue to try and suggest the Canadian market will follow the U.S., and that raises concerns among members and clients.

The statistics say the contrary is true. The problem is that the analysts view may become self-fulfilling; the greater the predictions of doom, the greater the potential hit to consumer confidence, and the greater the impact on the Canadian housing market.

I would encourage you to get this message to brokers, and we suggest they offer it to clients as well as a way of keeping the facts on the table. Please feel free to also post the news release on any web site or member resource facility.

Ann Bosley - 2007 President