Bank of Canada warns of possible housing pressures
The Bank of Canada warned of “vulnerabilities” in the country’s booming housing market in a report published earlier this month.
The report, by Mikael Khan, Olga Bilyk and Matthew Ackman, said house prices and mortgage debt levels were rising sharply as sales increased during the pandemic. It found that house prices had increased by 17% year-on-year in February 2021. Higher-income groups have been driving the rise in prices, as wealthier Canadians have suffered relatively less from Covid-19’s
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