Toronto MLS is similar to the US style. Our  Guiding Principles and laws are quite similar, We mirror NAR and so we are not very different. I know the housing market is taking a hit in all states across the US, we have not felt the full impact of the effect. However, with the recent stats there is a moderate decrease in trading activity, homes take longer to sell., multiple offers are quite rare these days, and home prices are stable, we have reached the peak a while back, but now the forcast for 2007 is not very positive, but my understanding is that the housing industry is monitored very closely, and there are plans to inject some activity should it slide. The Toronto Harbour front area is the area where there is a lot of condo activity, the gov't is spending billions to put a face lift to the lake front, it is airmarked to be the most beautiful in the world, only time and politicians will tell.