Bank of Canada warns house prices are overvalued

Financial Post

The Bank of Canada estimates that house prices in the country are overvalued by as much as 30% in a report released Wednesday that warned household debt remains the biggest risk to Canada's economy.  Punctuating the importance of high household debt and strains in the housing sector, the central bank said that it has developed a new method of evaluating these risks - based on house price corrections in 18 countries in the Organization of Economic Cooperation and development over a period dating back to 1975.

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Michael James

Michael James

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