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Sure looks as if it's a downward trend to me. And you can beat that Stephen Harper was thinking the same way when he called for elections now, instead of in six months.

Anecdotally, there are a lot more apartment pour louer signs popping up here in Montreal/east Westmount--and we're not talking the non-family size either. (That, of course, could be because the market was overpriced when everyone looked last Spring—but I'm seeing signs for 4.5s and 5.5s now that were not up then, so I'm inclined to guess it's a second-order effect.)

I was surprised to see that graph -- to see how closely the two economies have been tracking. Two theories of the recent divergence: high oil prices (until recently) were good for Canadian employment; house prices fell earlier in the US and have (so far) had a bigger impact there.

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