Importantly, the housing prices that are falling are those for units at the top end of the market, i.e., above $3 million in price. A lot of those expensive condos (25% per the article) remain unsold because they're expensive, the foreign buyers who used to buy most of them can't get their money out of their home countries, and now buyers need to pay an additional tax on top of their condo purchase.

Three's still a lot of demand at the bottom end--if you can find any units in that range for sale.