CREA, Senior Economist, Shaun Cathcart:
“Biggest gain of all time. And certainly, in dollars, it is far larger than anything that has ever happened. The only thing comparable would be back in the mid-1980s, we had a few years in a row where it was in the mid-teens or mid to high teens, so not quite as high as this year, but for a more sustained time period, so that was cumulative, we are not quite to that level yet, this is one year, we are actually forecasting things to slow down to about 7.5 percent price growth next year, just because higher interest rates for one thing, and a lot of people are going to be reaching their limits of affordability after the last year we had.”
Source: Hour 3 of The Rob Snow Show for December 15, 2021 – CityNews Ottawa