Posted 1/19/2024, 11:10:00 PM
Canada's Soaring Housing Prices Lead G7, Raise Bubble Concerns
- Canada's housing prices have increased 59% since early 2022, far outpacing other G7 countries
- Prices dipped 16% from the 2022 peak but have rebounded slightly, still up 306% since 1975
- US home prices are up 88% but pale in comparison to Canada's growth
- Canada has one of the largest housing bubbles due to low interest rates and high household debt
- Mortgages make up three-quarters of Canada's household debt, the highest in the G7