Yes, Canada experienced a rise in supply post lower IR's, but it didn't stop the price rise, albeit modest, due to pent-up demand. I expect similar to happen here if the Reserve starts to lower. That said, I take your point, OC, that a second wave of inflation is in the wind, given overdue demand for wage rises and Trump igniting a global tariff war and geopolitical disruption. Let's just hope it doesn't get as bad as the Volker years, but nothing would surprise me, given the specter of instability entering a number of market sectors.
