This is essentially Toronto. There is a fairly big delta between mortgage payments (with a reasonable downpayment) and rent. If you only care about monthly cash

This is essentially Toronto. There is a fairly big delta between mortgage payments (with a reasonable downpayment) and rent. If you only care about monthly cash flow, renting is a far better option. For the last decade the wisdom has been that buying a place is a good idea, despite the cash flow delta, due to appreciation. If people no longer believe this to be true, there could be a sharp shift in the housing market. Perhaps we’re seeing the beginning of that.