For about two years we've been anticipating a period of correction, who knows when;
Starting with the prolongation of dealing with the problem by the US through bail outs - instead of everyone sucking it up and dealing with the problems, they apply band aids.
It is our understanding despite a lot of the media hype & the politics involved around the US making it's payments, there has been some recovery in manufacturing and corporate is making money.
The inflation from all the money printed in the US has been spread out by low interest rates & high unemployment.
Europe is in rough shape, Greece hopelessly trying to refinance its debt.
has been showing signs of change/slowing - articles in BIV p10 Shifting Real Estate Tides
"...continued sings of prices falling."
"There is a big gap between vendor expectations [of prices] and the market reality."
"Today's BC coastal market is characterized by a huge number of listings and flat sales."
"While both Royal Lepage and Re/Max forecast a strong recovery starting this summer, vendors may recall that the same predictions were made in both 2009 and 2010."
Exceptions to the trend being in parts of Northern Ontario, Saskatchewan & Manitoba.
another tech bubble? (see Steve Blanks blog) we don't know.
There's always opportunity and businesses that grow in recessions. More importantly we have the knowledge in methods and technology to solve all these problems, and need a shift in thinking to adapt them. While a crisis situation is the most difficult time to implement them, it is often the catalyst needed to start.