But actually that would not be the best situation for the bears.
Think 2008/9. We were down hard and sudden and the donut-heads in Ottawa and Victoria panicked and pulled out some bedraggled rabbits out of the hat and up we went again.
If we go down hard, the calls to 'do something' will be deafening and the politicians and Carney will 'do something'..God help us.
So a slow steady decline would be very nice, thank you very much.
Something that doesn't cause panic, that slips under the radar, that allows the Bank of Canada to maybe- if they are feeling very brave- raise rates another 0.25%.
But a decline that keeps giving.
Anyway you wouldn't want a sudden huge drop, imagine those poor Realtors and Mortgage Brokers with cardboard signs at red lights saying..'Spare $5, Mercedes lease payments to make'. Have a heart.
I think another month with declining price, hopefully in all sections and measurements, will start the new trend.
