Bank of Nova Scotia economist Derek Holt says that it’s too soon to relax on the housing market, despite improving conditions in the economy. Mr Holt says that as prices rise we should raise our guard to the potential risks. Meanwhile at Capital Economics, David Madani says that it’s still inevitable that there will be downward correction. Three years ago the Capital Economics team were predicting a 25 per cent drop in prices. Most economists believe that any correction will not begin until interest rates rise, but there is still much discussion about how quickly things would change, and to what degree. Read the full story.