But to me I don’t think this bubble is going to see houses drop to the 300s like they used to be.

Is this a conclusion based on just direct impact, or did you consider the risk of people trying to bail out of a perceived-collapsing market in fear of an ever more challenging monthly payment?

I’d agree if you said it’d be difficult to even guess at the exact effects if people started panic-selling houses to unload on income properties to limit their risk - my own family was caught in that in the early '80s Calgary market and we’ve never recovered - but is there a nod to the potential for that slippage in your conclusions?