Canadians are bucking the trend set in other developed nations where real estate peaked and participants subsequently turned to repairing their balance sheets.

In Canada, savings rates are falling again as personal debt levels keep growing. 

At some point, that will change despite the Federal Government policy low Treasury yields.

When real estate flipping no longer produces a capital gain, owners will shift their priority away from spending to saving, including the forced saving plan known as a mortgage.

Look out. When spending drops, unemployment rises.