Let’s put aside, just for a minute, the idea that there is a housing bubble in Canada.
It there is a housing bubble, then we know it will burst at some point, and that the fallout will be singularly unpleasant. After all, we watched the bursting of the bubble in the U.S. take place in real time, just as if it was being broadcast on some kind of gigantic, high-definition television screen. We know how that story ends.
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