As blogged by Neil Macdonald on cbc.ca, Canadians are not likely to experience the near-total meltdown Americans experienced.
For one thing, Canadian banks never joined in the subprime-lending lunacy that inflated the American bubble to such extremes.
For another, Canadian mortgages are insured by the federal government through Canadian Mortgage and Housing Corp.
But Shiller says Canadians do seem to be suffering from the same delusion that afflicted Americans: the notion that housing prices always rise.
To read more of Neil's blog, click on the link below: