A report from the Canadian Press. "The Toronto area’s spring real estate market typically begins winding down in June. Andre Kutyan of Harvey Kalles Real Estate Ltd. recommends that sellers set a price based on what comparable properties have sold for, not what neighbouring properties are asking. 'Sellers look at the competition – what’s on the market now – that’s a big mistake,' he says, pointing out that those homeowners haven’t struck a deal."

"The most stubborn are the investors who are aiming to improve their bottom line. Mr. Kutyan recently met with two builders who put their plans to tear down vintage bungalows and rebuild them on hold when the market took a dive in 2018. Now the investors want to unload the properties."

"In one case, the flipper had paid $2.4-million for the modest house in Willowdale East in late 2017. Mr. Kutyan delivered the grim news that he didn’t think the property would fetch $1.8-million today. Another builder paid $1.75-million for a post-Second World War bungalow in 2017. Mr. Kutyan’s current assessment for the property is around $1.2-million."

"Mr. Kutyan says the sellers had both listed with other agents in the past without striking a deal. But he advised them that he wouldn’t be willing to take on the listings unless they were willing to face reality. He can understand their plight."

"'Quite frankly I don’t think they liked what I had to say,' Mr. Kutyan says. 'It’s hard to stomach.'"

The Daily Hive in Canada. "There are many statistics estimating how much prices have dropped in Vancouver during the past year, however, these stats are often too general or bias to be fully reliable. That’s why we spoke with real estate expert, Shawn Brown of West Haven Group."

"207-150 East Cordova Street: In March 2018, an identical unit was sold for $595,000. Brown explains how this suite was recently listed at $525,000, but it didn’t sell. The property is set to be re-listed soon, and he says a 'reasonable market value' might be $515,000. If this is accurate, Brown states that it would be a price drop of 13%."

"403-53 West Hastings Street: Brown explains that a unit which was very similar, albeit slightly larger and one floor higher than that pictured above, sold for $660,000 in February 2018. If suite 403 had sold for $640,000 at the time, it would translate to a 14% decline based on what it sold for this month — $547,500."

From ABC News in Australia. "Adam Hughes never imagined buying a modest family home in Perth's outer suburbs would lead him into financial turmoil, struggling to pay a mortgage he can no longer afford. The full-time mechanic and father of two bought a three-bedroom house in Byford for $336,000 in 2015."

"Within three years, it was valued at just $280,000. Making matters worse, Mr Hughes went through a relationship breakdown, involving costly family court proceedings. If he was to sell the house, he would be staring at a $56,000 debt, so he was forced to stay put. But as the bills piled up, he fell behind in his mortgage repayments."

"Mr Hughes is among a growing number of Australians grappling with negative equity — when a mortgage holder owes more to the bank than their house is worth. A new survey by Digital Finance Analytics suggested as many as 112,000 WA households were in negative equity."

"Not-for-profit organisation Anglicare WA, which runs a financial counselling service, said even a small or temporary reduction in household earnings could tip people into mortgage arrears."

"'A lot of families are living under enormous pressure, knowing that if something goes wrong — if there's a medical crisis, if they lose their job, if they get less hours at work — that they're going to really be in trouble,' chief executive Mark Glasson said. 'And for those people it's like a gnawing, ever-present burden that they're carrying.'"

The Daily Mail Australia. "The Barefoot Investor has warned the Australian housing market is in 'deep trouble' and on the brink of collapse. Celebrity financial advisor Scott Pape claimed Australians in 2019 are living through 'monetary madness.' He said the central bank cutting rates to an all-time low of 1.25 per cent, easier mortgages and Prime Minister Scott Morrison's new policy to help people buy their first home are a recipe for disaster."

"This is because they will allow more people to afford a mortgage when they would otherwise not be able to, meaning defaults are more likely. He wrote: 'The housing market was slowly deflating after the mother of all housing booms… but then you started cutting interest rates to almost zero? And at the same time you loosened lending criteria and encouraged young people to buy a home with just a 5 per cent deposit? How did you think it would end?!'"