It probably looks tempting for the maple-syrup-eaters flocking in Phoenix. All those half-off deals, the sea of foreclosures, the ruined families to take advantage of, the thousands and thousands of bank-owned debt-traps. But it's still not close to the bottom. Not even close. It's the P/E stupid. It'll always be the P/E stupid.
You just know there's a bunch of Phoenix ramen eating realtors who have moved all their advertising and cold calling to north of the border. They ran out of suckers in the US, time to import.
Here's the CBC video. Enjoy.