User: Brian Ripley: CAD Real Estate: Picture

According to The Economist Canadian housing is 78% over valued; while Japan is 37% under valued. Notice the U.S. housing market is tabled at 7% undervalued which is supporting the bullish argument to go long U.S. housing. But as The Economist reminds us "...some markets end up mimicking Japan’s long descent and badly undershoot." More at www.chpc.biz