It will wipe out the European export market that was not predicted nor assumed. China has surplus foreign currency and is ready to invest and Canada offers the best soil to
them with freedom and dignity. A year later in 1991, the Gulf War erupted. After a decade war with Iran Saddam Hussain thought he should be the leader of the entire Gulf. He started harassing his neighbours but no one took him seriously. To show his teeth he entered in Kuwait and the rest is known to the world. Pakistan was next in trouble fighting with
Taliban the entire country was in un-rest. People in the troubled areas around the world saw no future in their regions and dispersed in Europe, Asia, Canada and United States. They are the one shelter means everything to them, money is secondary. Cities need housing market grow to keep the taxes low because builders pay high development costs. Builders are like family jewels. Knowing the fact builders have increased the prices to an un-affordable level, that is dangerous. Low wages, higher unemployment rates and higher mortgage rates create un-affordability that triggers sell-off means bubble burst.