The Bank of Canada's latest financial review today stated that a housing market slowdown could potentially drag the entire economy down with it.
"Price corrections in particular segments of the housing market may put downward pressure on house prices more generally," the report said. "This would likely lead to a decline in housing activity, adversely affecting household incomes and employment, as well as confidence and household net worth, which would in turn reduce household spending," it added.
Meanwhile in Alberta, the amount of outrageously expensive houses on sale are anything but slow. From a French Country castle to a rustic mountain home with a river flowing past it, Alberta's real estate lavishness doesn't disappoint.
However, not everyone is content to spend almost four thousand dollars on maintenance fees, even if it means a 24 hour, full-service concierge.
Take a look at some the most expensive houses for sale in Alberta: