Canada

At the same time, many are also reluctant to lower asking prices and book losses on their investment, he said, at least for now.

"There's just limited willingness to lose money," said Daniel Foch, director of economic research at RARE Real Estate. "It seems like nobody has really adjusted their expectations to a market in which they aren't going to make a profit," he said.

Oh no, won't they think of those poor investors!