While the Real Estate Market in St. John's has been stable, in the rest of North America it has been going through a contraction period. That isn't news. For those whose property values have declined by 40% or 50% it has been no laughing matter. Especially when their plight has been brought on by a few who have benefited from the debacle.
Perhaps you have seen this. I came across this parody on the housing crisis that I thought was hilarious and wanted to share it with you. It moves a little fast so you may have to pause and start to get the full story but it is well worth the few minutes. Enjoy!