People have short memories, but it is just possible that the Conservatives will piss off enough people by the next election. They're already alienating their hard-right religious base by not re-opening the abortion debate in any way, shape or form (not because the prime minister is pro-choice, but because he knows his party is toast if they do). Anti-abortion advocates went as far as mailing flyers denouncing Harper in his own riding. Talk about biting the hand that feeds you.
The Conservative attack ads against the new Liberal leader are also backfiring--the Liberals (and the charity the ads attacked by association) haven't seen this level of donations in years.
As for a possible housing market collapse, I predict there won't be a US-style collapse, but it will see a significant downturn between now and the election. In the national capital, there are new, expensive condos being built (or completed) left right and centre... but the historically steady (or growing) number of people they depend on to buy them are disappearing, because of significant cuts to federal government jobs.
Of course, Ottawa isn't the whole country, but the major cities where mainland Chinese are gobbling up properties as foreign investments have a different problem--the housing market is becoming too expensive for locals to buy into.
Some of the government job cuts can be justified... except the Conservatives are wasting millions to create an entirely new and utterly pointless Office of Religious Freedom, with all the bureaucracy that brings.