Will Canada Correct more than the U.S. ?
Historical Housing Busts
SOURCE: Goldman Sachs Research via Pragmatic Capitalism. Read Full Report
The chart shows the historical distribution of housing market corrections for all the developed market nations and periods in the study. Based on the research, it turns out that the US housing bust was severe but not unusual; the 30-35% correction in the US housing market is not outside the range of other housing busts.
The study found that after the bust, the economy experiences the following trends:
History, Charts & Curated Readings
"Progress, far from consisting in change, depends on retentiveness. When change is absolute there remains no being to improve and no direction is set for possible improvement; and when experience is not retained, as among savages, infancy is perpetual. Those who cannot remember the past are condemned to repeat it." George Santayana Vol. I, Reason in Common Sense
"History, real solemn history, I cannot be interested in.... I read it a little as a duty; but it tells me nothing that does not either vex or weary me. The quarrels of popes and kings, with wars and pestilences in every page; the men all so good for nothing, and hardly any women at all - it is very tiresome." Jane Austen spoken by Catherine Morland in 'Northanger Abbey'