Reduced demand from tourism sector. 

When I realized the whole market falls when any of the above happened no matter how good of a sector picker I was, I sought more control.  

@Christos DimopoulosThe CAD has always been dependent upon commodities, but in the past decade the Canadian economy and government policy had bet far too hard upon oil to the determent of other sectors.  

Entry level housing in many areas started coming off the bottom in 2009 but multifamily and other commercial sectors have lagged behind in their recovery by years and years.3.

What happens next year if China cannot keep up the Kabuki Theater and their Real Estate Bubble explodes like none other in the history of the world and the banking system worldwide collapses?

For starters forget about fixed rate mortgages they don't exist in the commercial sector.

Multi Frothy and a sector to watch.. as cap rates have been crushed .  

there is so much of this stuff going on in all sectors of RE... especially those offering loans and capital.. 2 e mails and they are willing to invest 1 million with you.. 

I still see a lot of vacancies in the retail sector in my area.

I think that sector/passion-oriented knowledge is a good way to develop specific and unique segments in a market.