The housing bubble already popped in some parts of Canada

``If you recently bought a home in Toronto or Vancouver solely to make a quick financial gain, you probably just made a mistake. We humans are averse to loss, and real estate in Canada's two biggest cities has ... "Recent momentum in prices in Toronto and Vancouver may increase the likelihood of a correction in house prices, which could affect vulnerable households," Bank of Canada Governor Stephen Poloz said at a press conference in Ottawa on Dec. 15. City slickers, you've been warned.'' -- See also Free months of rent, Internet and gift cards: Calgary landlords resort to perks as vacancy rates rise.