A home for sale in Vancouver. Canadians have been putting money into the red-hot housing market for years, and could be headed for financial pain with a correction underway, Tim Shufelt writes.

Every conversation about financial markets these days eventually veers toward the question of whether we are in a bubble – AI, gold, Big Tech.

But there’s another asset bubble already undoing itself in painful fashion, and this one means a lot more to the finances of the average Canadian than the stock market.

Home prices in Canada have been grinding lower for 3½ years and counting. And still, the long-awaited rebound has yet to materialize.

Sales are low. Buyers are in no hurry, and sellers are being forced to reduce their prices.

“It’s going to be at least five to 10 years from the peak befor

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