– The Canadian Housing Bubble Has Begun To Burst (ZeroHedge, March 24, 2015):
Energy accounts for 10% of Canadian GDP and around 25% of exports and the swift fall in oil prices is having a profound effect in the nation’s oil producing regions where home sales are collapsing by as much as 65%.
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Canada has other resources besides oil. In my opinion, the so-called oil glut is in danger of changing overnight, especially in light of a new Saudi war.