Housing is of considerable interest to the Bank of Canada, from two perspectives, explained David Wolf, an adviser at the Bank of Canada.

From a monetary policy point of view, "The housing sector is a crucial part of the Canadian economy, and it typically plays a disproportionate role in economic cycles," he said.
Second, "experience shows that increases and collapses in house prices have been driving forces behind bouts of financial instability in many countries," he told an audience in Edmonton