The Most Splendid Housing Bubbles in Canada Deflate | Wolf Street

``Canadian housing markets are in a category of their own. No housing market in the US -- no matter how crazy Housing Bubble 1 was, which began to implode in 2006, or how crazy Housing Bubble 2 is or was -- can hold a candle to the most splendid housing bubbles in Canada. Instead of a Financial Crisis and a mortgage crisis and Housing Bust 1, the bubbliest Canadian markets only had a little-bitty dip, and within months were back on track to what would be an 18-year housing boom that is now coming undone.''