A Consumer’s Guide to Understanding the Home Buyer Rescission Period

Posted May 21, 2025 8:09 pm. Last Updated May 21, 2025 10:53 pm. When former Vancouver mayor Gregor Robertson made his comment on Canada’s housing market last week, there might have been more truth in it than many of his critics want to admit. “Finally, someone said it out loud, something we all know, but are not supposed to say,” said long-time Vancouver city councillor and urban planner, Gord Price in an interview with 1130NewsRadio. Not even 24 hours into his new role as Minister of Housing, Infrastructure and Communities, Robertson was clipped saying he does not think housing prices need to be lower . But Price is coming to Gregor Robertson’s defence and thinks critics should widen their lens. “I am not sure how much people really want government to be setting the price up or down.” Price said. “Even if they could, they really can not and you would not want them to.” Price explains that it is important to remember that the housing market moves with global trends. And, if government tries to push prices down too hard, they risk setting off a chain reaction that could destabilize the economy. “If you do not like inflation, you are sure not going to like deflation,” Price argued.