Posted 11/22/2023, 11:04:00 AM
Canada's Housing Bubble at Risk as Prices Soar, Supply Lags, and Interest Rates Rise
- Home prices in Canada have more than doubled since 2011 and affordability is at unprecedented lows
- Demand has raced far ahead of supply - Canada simply isn't building enough new housing
- Canadians have taken on massive debt loads, with household debt as a share of GDP the highest in the G7
- Interest rates are rising rapidly, making mortgages increasingly unaffordable
- Economists disagree on whether Canada's housing bubble will burst or prices will keep rising due to underbuilding