[jasonturbo]

I don't think the issue will be a housing crisis in Canada, it will simply be an economy crisis lol.

Seriously though, jobs dwindle, we have no real sectors we can prop up, we already propped up housing for a decade, they can't drop rates any lower, we have more debt than ever before, and gov can't balance their own books.

Here's what happens, unemployment starts to shoot up, Gov eventually panics and goes into infrastructure mode while trying to roll out new tech initiative to grow that sector in Canada.. meanwhile they run a nasty deficit and sell shitloads of bonds, all while the ratio of taxpayers to pension drawers tanks.

Not even kidding, I am 100% seeking opportunities abroad right now because the Canadian economy is shit. Resource based economy and global growth is slowing, they simply don't need our oil, lumber, minerals like they did 7 years ago.. and while smart kids should have been getting into tech, they were instead getting into lame ass oil and gas/mining jobs because the pay was so much better.

There is no way to soft landing the Canadian economy other than massive long term debt via bond sales (especially with retirement crisis coming soon, right now there are 4.9 tax payers for every CPP drawer, by 2030 there will only be 2.7 tax payers for every CPP drawer) and maintained low interest rates like Japan. Canadian dollar is heading for the 60's in due time I think.

All a matter of opinion, but I would challenge anyone to provide a case for robust economic recovery lol.

And yes, gov will bail out banks/CMHC/stupid homeowners... how can they not?

Bah. In 20 years you will constantly read on the news how millennials got fucked.