Frankly, I just don't get all the hype over subprime meltdowns and housing prices. Okay, I can look at it and objectively understand the concern, but it doesn't, at all, draw my interest. Regardless, the American mess is not spilling over to Canada.
Edmonton and Calgary prices have both flattened out, the runup in prices there seems to have pretty much ran itself out, up 0.5% and 0.8% monthly, respectively. The Prairies are a bit frothy; Saskatoon is up 8.8% m/m, and Winnipeg 5.2% m/m, but everywhere else is flat: Canada as a whole up 0.7% m/m.