Canada’s housing market faces a prolonged correction, with history showing past bubbles lasted 11–15 years before recovery in real, inflation-adjusted terms. Current declines already exceed the 2008 dip, raising fears of a decade-long slump. Affordability remains strained, investors avoid losses, and comparisons to Japan, Spain, and New Zealand suggest recovery could be slow. The path forward hinges on incomes catching up or home prices falling further to restore balance.
Canada
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