I respectfully disagree silvertom1. Canada's economy is dependent on two things:
- Oil
- Lumber
With oil prices low, our oil sands and economy have taken a significant hit that has resulted in higher inflation and a lower Canadian dollar.
IF the housing market begins to correct, the first casualty will be the lumber mills and once they slow down production, it will result in slower housing development which will crush the housing market altogether as people who have poured their life savings and equity into real estate go running through the exit door only to realize they're jumping off a cliff.