Canadas high home prices and debt levels bear watching IMF says

CBC News Thursday 14th February, 2013

Rising household debt and high housing prices are making Canada more vulnerable to global economic shocks, the International Monetary Fund says in its annual look at the country's economy. Despite evidence of over-building in some markets -- especially in Ontario and Quebec -- and average prices that it says are, on average, 10 to 15 per cent above where the fundamentals suggest they should be, the IMF pegs the likelihood of a sharp fall in house prices as "low." The report notes that house price growth and residential investment have already shown signs of moderating. "While high household...

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Source: http://www.canadastandard.com/index.php/sid/212583841/scat/71df8d33cd2a30df

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