You can twist it up anyway you like with a survey. Yes, buying a home has been a good long term investment, but that was then, this is now; what if after years of paying on it, it is worth less than you paid for it and there is no one to unload it on, should you need to get out from under it? The interest rates are low, so it may seem like a good time to buy, but those interest rates will not stay low forevever. Think the 80's. 18% to 21%. I don't believe we will ever revisit those highs, but 10% or so, is not unfathomable in the future. Disaterous for those people counting on 4% or less. I know people who 30 years later are still be impacted by the rates in the 80's. I know a few that had to claim bankruptcy and it took years for them to clear their credit and buy a home again. And they didn't have a four wheeler, a snowmobile, a 50" HD TV, etc and all the other must haves for new home owners these days.All their money went to pay that mortgage and I mean all.
People have to be prepared for falling house prices and high interest rates as well as inflation and an unstable economy.
I am not a fan of Garth Turner the ex MP, but he does have an interesting blog (one of many these days on the subject of Real estate crashes around the globe).

http://www.greaterfool.ca/ check it out.

Surveys can be skewed to reflect what the survey takers want them to. I hope the days of cheap money being lent, continues forever, but even without an economics course I know that they can't.

Regarding the Greater Fool blog.

If you enter Krunched in Kelowna or BC in the site search engine, you will find in the archives 2 blog posts that may be more relevant or interesting to some as they are his takes on our provincial real estate. I thought "Krunched in Kelowna" was particularly poignant. Don't forget to read the comments, as just like this site, they are not only are entertaining, but thought provoking as well.

The institutions think it is a great time to buy a house because they are looking to unload the ones on their books.

Survey says,,,,,,,, buy now,,,,,, posted by the people in the business of selling.

For Prince George, I think you can wait a bit longer to put the squeeze on the weak.

You know what the problem with the Bank of Canada rate is? its not gonna drop any further!

We should be back up to 2.5% for the Bank of Canada, before the summer of 2010, meaning the rate should be about 4.5% for the banks.

Real estate will be going down for awhile yet...

yeah buy now and see what happens when the mills shutdown in PG like in Mackenzie people paid 150,000 for a house a year and half now they can't give them away. Sure i got one to sell before i can't get what i paid for it

If Harper said this you could be sure of a major revolution in words in Ottawa. The Donald on Larry King said it was a good time to buy. (A few months ago) So did Obama. No one crapped on them , but let Harper say that, well that's a different kettle of fish.