The long-anticipated slowdown in Canadian residential real estate is now underway, and guessing how far national home prices might fall has become a popular pastime—scarcely a month goes by without a new estimate making headlines. The astute observer may discern some correlation between the tone of the prediction and the economic interests of its promoter. After all, it seems like the sunniest forecasts come from realtors and banks who are active in mortgage lending; leave it to the depraved journalists—particularly those pessimistic foreign ones—to envisage a fiery apocalypse in our future.