CANADIAN REAL ESTATE STARTING TO GO THE OTHER WAY...

http://www.cnbc.com/id/100726168

"Last year, outgoing governor of the Bank of Canada Mark Carney added his weight to the debate by warning on numerous occasions of elevated household debt levels which represented a significant threat to the financial system.  Fears remain that Canadians aren't listening as the ratio of credit market debt (such as mortgages) to disposable income continues to rise, according to Statistics Canada, reaching 165.0 percent in the last quarter, compared with 164.7 percent in the previous."

 

Stein added that "The striking rise is household debt is not necessarily Mark Carney's fault."

"Canada is a commodity producer, and commodities have done very well in the past decade, so, in part, strong price gains in Canadian real estate might be a side effect," he said.


SIDE EFFECT...

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