I realize the phillips curve eventually reverts given enough time, in the short term it still depicts an expected increase in unemployment due to monetary stimulus.
The way I see it as far as corporate profits they will always rise when there is a large bout of stimulus, the stock market is a sea of green during hyperinflation as well when measured in nominal dollar terms. When you devalue dollars everything goes up relative to dollars.
Then the BoC raises rates to cool inflation which is when corporations profits would revert to the mean; inflation which was still pushed down via immigration and mortgage bond purchase despite the large price hikes. Till we are eventually left in this state of a cooled job market, now with excess labor and a large youth unemployment, and we haven't even officially hit a technical recession yet.
As far as house prices rising and falling I think that's just stimulus followed by rate hikes. We still have a dire shortage due to immigration which pushes up prices, with the mortgage purchases allowing prices to remain elevated despite rate hikes due to pushing down mortgage costs.
I would love to have that terrible pick for housing minister be liquidated, that is a prime example of blatant corruption.