I'm a follower from Canada ; our fed, the Bank of Canada generally follows the US federal reserve . . a lot of what happens stateside reverberates up here Anyways, Canadian RE has been in a slump since 2022, down about 20% from the peak and basically at 2016/2017 prices when adjusted for inflation. my theory/thought/prediction is: with all the inflation going on with tariffs, energy prices etc. it seems the real interest rate is near zero (2.25% nominal interest rate and 2% inflation), and if the US federal reserve also keeps the real interest rate low, I think housing prices may start to rise again in Canada. (note: i'm not entirely sure how correlated policy rates + inflation is to canadian housing) It's like a perfect storm of a weakening CAD, inflationary pressures, strong recent correction that could cause the price to go up, at least in nominal terms. Meanwhile, the general consensus on social media is that Canadian RE is going to continue to decline to ~2005 levels and its still not the bottom yet. Of course its probably impossible to predict the bottom or the future, but it feels like a pressure cooker just waiting to explode. Wondering what your guys' thoughts are on this, perhaps from a US-lense, or if anyone here happens to follow the Canadian RE market? One thing I'd note is our mortgages are a bit different here as we don't get 30-year fixed mortgages, we have either variable or fixed rates that we have to renew every 3-5 years. variable rate mortgages are currently approx. prime - 1% so ~3.45% , and fixed-rates are around 4%. This may cause different dynamics, e.g. new builds are actually more expensive here while it's not a surprise you may find new builds cheaper stateside due to a lot of existing homeowners having low interest rates from the COVID and pre-COVID eras