By what metric is that Canadian wealth quantified?<p>If Canada is anything like Australia, household wealth is essentially the value of the house, which is most certainly not intrinsic, but a function of credit availability facilitating a housing ponzi scheme. How much Canadian mortgage lending is via Canadian banks borrowing from overseas banks in a currency other than CAD? How will Canadian banks deal with the falling CAD?<p>This is the scenario facing Australia at present, (the AUD made it to USD 0.69 earlier this week, from a high of 1.05 in 2013), and Australia is fucked.<p>A housing crash for both Canada and Australia in 2008 would probably have been a good thing.