For the first time in 30 years, a synchronized housing bubble has spread to six red-hot real estate markets in Canada, according to Canada’s Housing Bubble: An Accident Waiting to Happen, a new report from the Canadian Centre for Policy Alternatives (CCPA).  Precarious Housing in Canada, a powerful research report from the Wellesley Institute, documents the housing insecurity facing millions of low and moderate-income Canadians, and sets out the framework for a long-overdue national affordable housing strategy.The CCPA study examines trends in house prices in Toronto, Vancouver, Calgary, Edmonton, Montreal and Ottawa between 1980 and 2010 and finds price increases in those cities are outside of a historic comfort level.On average, inflation-adjusted house prices in these cities have historically held stable at between $150,000 and $220,000 in today’s dollars, but current housing prices in all six major markets are now over $300,000, on average. “The bursting of housing bubbles is a rare event in Canada, but the steep rise in house prices in so many cities displays all the hallmarks of an accident waiting to happen,” says the report’s author David Macdonald, a CCPA research associate.