"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'
The first bullet point above should concern the Canadian real estate markets. If a stock market correction gets sparked, the combination of rising interest rates and falling equity values should spook the real estate bull. Mortgage term renewals will go up in price and the bank of mom and dad will reconsider the risk of the rising cost of money. Parents, especially retirement aged or close to it, will not be too eager to take on more debt and purchasers of any age will have to consider timing as an investment criteria rather than buying anything with a front door for fear of missing out as is happening in Toronto. Timing is difficult, but lenders would become more insistent on basic risk assessment fundamentals such as the Income Approach to valuation instead of a rubber stamp and a drive-by appraisal.
Sentiment change is an investment killer and in Canada it would not take much to gather momentum as evidenced in my ongoing Federal Direct Investment plot which has been negative for almost 20 years, and which widened dramatically in 2015. Capital flows are net positive going out of Canada because investors want better returns which is why the oil majors are leaving Alberta for less regulatory and lower cost of production environments.
A March 2000 stock market correction event would lend credence to my February 22, 2017 post Need For Speed which posits that a housing correction could unfold in a much shorter time span than what Harry Dent has in mind especially with Trump-O-Nomics in the house.
Al Gore on the Solar Revolution - TED Talk Clip 1.50 min
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