People will hold on at low interest rates if they think there will be a dead-cat bounce. If bitcoin did it, why not? They will cut their losses if there is no hope.
Vancouver had 4 billion in laundry tabs. Toronto is most likely 10 billion or more. And Toronto is always running 6 months to a year behind Van. A huge number of luxury condos and monster houses are empty, and were very popular with the cleaning crews. I predicted 50% a long time ago, and I'm still going with it, but it's taking a lot longer. That makes the 'prediction' useless for money purposes.
So, the lesson is that you should be happy with a 20% haircut, if you can get out of the market now.
ps. there will be no big investigation on coin cleaning, since Toronto lives on that stuff.
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