Thursday September 15, 2016
By Andrea Hopkins
OTTAWA, Sept 15 (Reuters) – Canada’s most expensive housing market braked sharply in August and the nation’s long housing boom had begun to cool, while consumer debt levels hit a new record in the second quarter, separate data showed on Thursday.
While a housing slowdown could be the start of a long-feared housing crash or a much-needed moderation, the bump up to fresh highs in household debt will reinforce the Bank of Canada’s concern about financial instability in a country where expensive housing has pushed consumers to the brink.
To read more, click the link: WRAPUP 1-Canada housing sector cools as households hit record debt | Kitco News