This is actually a good thing. House cycles exist and it's better to have smaller, more frequent ones than massive ones like 2008.
Canada never had a 2008 housing crash. Housing has been on a tear since the early 2000's and the average sale price of a home (nationally) is 2x that of the US despite lower salaries, higher taxes and a lack of 30-year fixed rates.
That is a bubble. My opinion is the US market is hot, but not a bubble. It could turn into one, but if this is a real correction, the fear of a bubble is much less.
Canada never had a 2008 housing crash. Housing has been on a tear since the early 2000's and the average sale price of a home (nationally) is 2x that of the US despite lower salaries, higher taxes and a lack of 30-year fixed rates.
That is a bubble. My opinion is the US market is hot, but not a bubble. It could turn into one, but if this is a real correction, the fear of a bubble is much less.