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BOC’s Beaudry worried about housing risks in Canada and high debt


Deputy Governor Paul Beaudry’s alarm bells sound

  • BOC sees more chance for real estate market correction
  • Housing market imbalances and high levels of household debt have intensified in some ways thanks to the pandemic
  • The sudden influx of investors in housing likely contributed to the rapid price increases seen this year
  • Particularly worrying that expectations of house price increases could create a disconnect between real house prices and their more fundamental levels
  • With the resumption of immigration, the supply / demand imbalance could worsen
  • The pace of house prices is picking up again
  • Household insolvencies at their lowest for several years, few companies show signs of financial stress

I could write 1000 words about housing in Canada, but a picture says it all. That’s what $ 1,080,000 will get you in Toronto.

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