If Toronto reverts to March 2009 for home pricing, that'd be about a one-quarter haircut from current pricing.
If Toronto reverts to Nov. 2009 for home pricing, that'd be about a 15% haircut from current pricing. Nov. 2009 is when this thread started.
March 2009 prices are about 12% below Nov. 2009 prices, so to put it another way, prices would have to drop 30-35% from today's prices to achieve a significant (> 10%) price drop from when this thread started, when the doom-and-gloom predictions in this thread began.
it's funny how those who call for a drop in r/e prices are labelled 'doom-and-gloomers' given that prices have risen 33% in 3 years in the above example; however, those who regularly pump up the prices and markets aren't given a similar negative label .... hmmm ... to me it's akin to being a boiler room pump and dumper