Caution ! Canadian Bank of Canada LOST, Ignorant, and Irresponsible ! Emergency measures needed.
Someone please stop the PSYCHOTIC BANK OF CANADA from ruining everyone's lives in Canada.
They have interest rates way too low while its been booming for years in Canada.
The government keeps encouraging foreign capital from almost anyone and anywhere to buy up prime real estate without any background checks into possible corruption, or fraud from overseas.
This has created a major polarity for those that did not own property before the great recession, and now its nearly impossible for a middle class person or family to afford even the cheapest townhouses in major cities.
Fitch says 20% over valued, they are evaluating there metrics to better gauge the accuracy of the over valued priced, and additional information from BIS: Haver Analytics, the Economist has Canadian real estate valued at 78% over traditional rents based on over 30 years of data, and 34% over valued based on incomes.
Canada ranks # 1 in real estate prices now globally by FAR.
The absolutely IRRESPONSIBLE Bank of Canada, and partially to blame Federal Government has not done anything to stop this bubble, which really started at about 2000 well in advance of the great recession.
This is a very dangerous situation, and will only serve to disrupt prosperity and sustainability in a Country that so many worked so hard to build.