To paraphrase Mark Twain, the reports of a housing bubble in Canada are greatly exaggerated.

The reports have been circulating since early this year -- reports I found unconvincing, which is shared by Don R. Campbell, author and president of the Real Estate Investment Network (REIN).

The Real Estate Investment Network (REIN™) a Division of Cutting Edge Research Inc. is pleased to release its 2010 update to The Calgary Transportation Effect, which details the impact of the upcoming transportation improvements, part of the government stimulus packages, on housing in Calgary.

Calgary transportation improvements will deliver a 10%–20% enhancement of real estate valuesin the regions most affected. In the future, these areas will outperform the rest. If the market goes up everywhere, these areas will increase by about 10%–20% more. If the Alberta values drop, these will drop by 10%–20% less.

The biggest mistake a real-estate investor can make is to buy on a tip, property expert Don Campbell says.

Investors must back up their decisions with hard facts, treating exuberant gab from a friend with healthy skepticism, says Campbell, president of the Abbotsford-based Real Estate Investment Network.

Edmonton's resale housing prices, listings and sales all posted double-digit increases in March compared with a year earlier, according to figures released Tuesday by the Realtors Association of Edmonton.

Don Campbell does not sell real estate. But the bestselling author does know a thing or two about making money off it.