Is it a good idea to buy a property in Canada these days?

Question

To my limited knowledge, Canadian housing market has been a "safe bet" for at least a decade. With the U.S. housing market on a downturn, would you buy a residential property for your personal use in early 2008?

Answer 1

I don't know about Canada, but a downturn is the BEST time to buy property. By definition, there are MORE sellers and LESS buyers. This is the IDEAL situation to get more property for less money.