Its report warned “Canadian households are much more leveraged than in the past. Well, some countries are trying to prevent bubbles. Central banks are flooding economies with cheap credit, and trying to prevent bubbles. Rosenberg’s repeated warnings over a housing bubble come as a cocktail of record-low interest rates and sky-high demand for detached homes during the pandemic led real estate prices in Canada’s two largest housing markets sharply higher. We are fighting for Canada's future. We want common sense housing laws that ensure: transparency, ample housing stock, and sustainable price appreciation. When people picture red-hot real estate markets, they most likely think of soaring prices for the condos dotting Vancouver's skyline. All so Canadians can find a decent home to live in. It’s this dearth of housing supply combined with the plunging interest rates caused by the pandemic -- the average rate on a common fixed-rate mortgage in Canada … Share this item on Reddit reddit Copy article link Copy link Real estate prices have soared in Canada, with the average price of a home costing 25 per cent more than last year. Canada has decided home price inflation is an uncontrollable consequence of the environment. But they're likely not thinking about properties like Barb Armstrong's quiet bungalow in picturesque Perth Ont., about an hour southwest of Ottawa. Warnings of a dangerous housing bubble in Canada are growing. Canada's housing market is indeed flush with cash at the moment, with the national average selling price hitting an all-time high of $678,091 in February. Amid growing concern over a dangerous housing bubble in Canada, respected economist David Rosenberg is warning that the numbers in Canada’s housing market are worse than what he saw in the US housing market before he warned of the bubble in that country: “I’m taking a look at all the metrics I had in my hands when I … March 9, 2021 March 9, 2021. Updates and news about Canada's housing crisis. Statistics Canada also revealed that “for non-senior families, where the highest-income earner was under 65 years of age, the median after-tax income was … Since 2008, analysts have warned Canada’s housing market is due for a bust. They might also conjure up the bidding wars for massive mega-mansions in and around Toronto. Canada Bank of Canada Wants A Housing Bubble, While Other Central Banks Try To Pop Them. 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