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There was a correction in 2009 and a plateau in 2013.
A correction in detached homes means nothing for the majority of prospective buyers under the age of 40 without current equity as the cost of these homes is still out of reach for all but the highest earning families.
However, as many in this thread have been saying for the last 6 to 12 months, it is now a very good opportunity to upgrade if you have owned a condo or townhouse with several years of equity as the gap between strata and detached hasn't been this close in quite some time.
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