It's a shame the ONtario government had to stick their nose in all this. All they had to do was allow the market to (rates being the critical driver) work as they should and the housing prices would have responded accordingly. Instead, as with their minimum wage stunt, they sought to buy votes with all those disgruntled folk who were clamouring to get into the market but couldn't. Now with rates moving up their move has added gas to the fire. Never underestimate politician's ability to meddle where they don't belong and make a mess of things.