[omro]

Everything I've read suggests that the Canadian housing market won't crash, merely flatten out and maybe a slight dip.

And that Hamilton's prices had leapt as they were seen as undervalued and also Hamilton houses were being seen as ripe potential commuter belt to Toronto, as you could buy a place twice the size for half the price. However, without the infrastructure in place for a fast link to Toronto (yet) and the rising oil prices, making a car based commute more expensive, demand has slowed from the Toronto commuters.