Are Canadian Homes fairly valued?

Canadian homes are fairly valued. Really
Domestic housing prices have climbed 83 per cent over the past decade. For most Canadians, this is sufficient proof the residential real estate market is overvalued. But Lakehead University economics professor Livio Di Matteo argues that the increase in household income and population almost completely justify the rise in housing prices.
Source: Globe and Mail Nov 25 2013

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