Looks like the pending sales in June have dropped off already, things trending back closer towards 2010 numbers again.
Meanwhile the debt keeps piling up and wages haven't increased to keep pace.
http://www.theglobeandmail.com/repor...rticle2067705/
The ratio of household credit market debt -- including mortgages, consumer credit and loans -- to disposable income rose to 147.3 per cent in the first quarter, surpassing the revised 146.2 per cent mark in the fourth quarter of 2010.
In fact, Canadian debt ratios are now “leaving their U.S. counterparts in the rear-view mirror, despite the repeated exhortations by domestic policymakers to rein in borrowing,” said Douglas Porter, deputy chief economist at BMO Nesbitt Burns.