Jun
05
Don’t Bet the House on Poloz Busting Toronto and Vancouver Bubbles
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Bank of Canada faces calls to raise rates, cool home prices
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BoC Governor has said interest rates are a blunt instrument
The old debate about whether central banks should raise rates to counteract housing bubbles is finding new life in Canada as the country copes with record prices in its two biggest real estate markets.
Toronto home prices were still up almost 30 percent last month, compared with the previous year, the city’s real estate board reported Monday, and have more than doubled since the 2008-2009 recession. In Vancouver, the country’s most-expensive real estate market, they’ve climbed 58 percent over four years. Meanwhile, household debt is at record levels, recently surpassing gross domestic product for the first time…
Don’t Bet the House on Poloz Busting Toronto and Vancouver Bubbles
