Whoops. Usually trouble when Canada's Regulators get involved:"Canada’s top banking regulator is on a fact-finding mission to gauge the scope of foreign investment in residential real estate."

"There is an almost startling difference between the state of housing markets north and south of the 49th parallel. The latest Standard & Poor's/Case-Shiller housing survey showed that U.S. home prices fell 4.2% in the first quarter, extending the fall in house prices to eight months. By contrast, the latest Canadian figures suggest that while the volume of sales was down in the early months of this year, average prices in April were 8% up on last year."

....read more HERE

All Time Record Prices in Vancouver as of April 2011 (click on the Chart for Larger View)

Toronto Ottawa & Montreal Set New All time High Records/ Click on Chart below for Larger Image: