Share your insights or perspective on the financial matter presented in the input.

What evidence is there that rising interest rates causes Canadian condo prices to go down?
If money is more expensive (costs more to borrow) then fewer people will be able to qualify to make the payments for a particular size of mortgage.  This reduces the number of potential buyers for property at that price.  As sellers still want to sell, they will move their prices down to where more people can afford to buy. So rising interest rates create downward pressure on housing prices. But Toronto is the biggest city in Canada.  I'd expect part of the high prices there is the location: lots of people want to be close to lots of activities, action, and opportunity.  Unless something catastrophic happens, I don't see Toronto losing that advantage.  If anything, it's going to get a tad warmer up there in the coming decades.