And up to a third of recent GDP growth has been driven by real estate and supporting sectors.  If Toronto and Vancouver continue to correct or even flatline, it will definitely drag on GDP.  It doesn't look like oil & gas will recover enough to pick up the slack, and clean tech is not large enough yet to make much difference.  So will Trudeau's budget still balance itself, or will the deficit balloon and will he shock his middle class with a major tax hike?