Since Rocky is taking a 4 week from posting, I will take the opportunity to miss a usually well deserved intellectual slap to the back of the head and note that we will soon have a test of Humboldt's Law on the importance of the time versus magnitude of a bubble versus the intensity of the deflation.

In Canada, housing has been on a 12 year bubble. It will deflate at some point. 12 years is, I suggest, a long period for a bubble. Let's see what happens during the inevitable deflation.

Alex Castaldo clarifies:

Humboldt's Law of climate says that the temperature at a certain point  on the Earth depends on both the altitude above see level (the higher the altitude the colder it is) and on the latitude (the further away from the Equator, the colder). Humboldt's Law of market crashes is David Lilienfeld's idea that the severity of the crash depends both on the price runup and the length of time the bubble lasted,


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