David Rosenberg said recently that there is another 20% drop to come in US real estate so where does that leave us... I agree with what Bill Gross said recently that Canadians are in denial if they aren't willing to learn from the US experience over the past few years. Once these things correct they don't just bounce back right away and it takes years and years to have a sustainable recovery.
So we have many of analysts and experts and even bank of Canada officials giving out warnings and people still think that we operate on different metrics here.....go read
http://www.amazon.ca/This-Time-Diffe.../dp/0691142165 and tell me that things don't have to correct. This book tells you everything you need to know in a very logical manner, or for more specific info
http://canadabubble.com/