The Canadian Real Estate Association (CREA), the MLS® Home Price Index, the leading measure of Canadian home prices, increased in May 2012.

Credit bubbles, (the deregulation of the financial sector) serves to extrapolate wealth from the productive aspect of the global economy into the banking industry, which hinders future economic growth, since the economy is laden with so much debt.

Very few seem to understand the  similarities throughout a history.   
Anyone who has studied history, is not surprised that most every bank in the world will have to be bailed out, since the artificial bull market led many to believe in its permanent rise in asset values.

Moreover, until that debt is written off…( a modern debt jubilee) the global economics will continue to contract.    This is the tail end of the K cycle, and the end of the super-cycle of debt, which should bottom into the cycle low of 2016.