I am just cautious that Vancouver and Toronto have been increasing for over ten years at a rate that is significantly beyond inflation. So there will be a correction. It might be a long sideways period where the values do not keep up with inflation. We see both Ednonton and Calgary in their second year of corrections. But I am no longer familiar with those markets....Why do you say Canadian RE is in trouble? It looks pretty normal to me, (excluding the Van area lower mainland, which i never count as normal, by any stretch) although i haven't really looked under the hood lately. Are you suggesting that rates are going to take off? I can't imagine that.. I see that sales are dropping like a stone in a couple of cities, but that's not out-of-character with the scenario at large.