The one thing I think people don’t think about and get wrong when they talk about housing bubbles in places like Canada and China, is they really don’t have the crazy finance Options we had during 2003-2006 in the U.S.A. (especially California).

In china 20% down is minimum for housing, to tell the truth most still pay cash.

That not to say there are not other forms of finance bubble trouble but it’s not at the consumer level, it’s more at the Gov level and that is easier to monetize.

If Greece had control of their own currency, it would almost be an non issue.