It is shocking that a body of this importance (Toronto Real Estate Board or TREB) charged with compiling data in order to help Torontonians, Canadians and those wanting to live here with the largest purchase of their lives, only has data going back to 2000. Regardless of this biased group (both compiler of the "independent" information and the governor of the agents to execute these transactions), the language of "the largest seven-month decline" should be taken in context.
It appears the stress test measures have (temporarily) done their jobs i) keeping inexperienced yet wide-eyed first time buyers from landing themselves in financial stress and ii) reducing the lighter fluid already placed on a raging bonfire.
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