Disastrous economy. Housing booming though - actually housing prices have gone up while unemployment has surged up and the economy has been contracting. Defies Econ 101. But that's Canada, that's our economy. When you are paying 70% of your income for your mortgage, leaves you very little money to spend. Layer on top of that a hollowed out manufacturing sector, and what do you have? CAD could weaken massively from here vs USD, with completely divergent economies and monetary policy. Consensus is calling for $1.40 but generally consensus gets markets wrong; can you imagine if it goes to $1.80?? But we will still keep buying multiple homes, somehow, and pulling home equity lines and buying furniture and renovating and going on vacation. God help us if  housing crashes because we have little left and are massively indebted.