Oh, Canada. What have you done this time? Too much debt. So much in fact, that the central bank of central banks, the BIS, has warned you have too much. That’s when you know things are bad! As long as housing prices rise at 10% per year forever, nothing to worry about.
Do you see a problem with this?
The housing bubble in Canada is just one of many. Canadians are in the maximum debt they ever have been historically. Look at credit card debt and every other form of debt. It’s multiplying as fast as the banks and credit companies will dish it out. Now we have a crisis on our hands.
Canada among nations most at risk of banking crisis, study says – Article – BNN
https://www.bnn.ca/china-at-risk-of-banking-crisis-in-bis-s-early-warning-signal-1.1023787
Canadian household debt hits $1.8 trillion as global watchdog warns of risks to economy | Financial Post
http://business.financialpost.com/personal-finance/debt/canadian-household-debt-hits-1-8t-as-report-warns-of-domestic-risk
Empty Homes Tax | City of Vancouver
http://vancouver.ca/home-property-development/empty-homes-tax.aspx
DXtWOICVoAEPHMh.jpg (1182×695)
https://pbs.twimg.com/media/DXtWOICVoAEPHMh.jpg
Vancouver declares 5% of homes empty and liable for new tax | World news | The Guardian
https://www.theguardian.com/world/2018/mar/08/vancouver-declares-5-of-homes-empty-and-liable-for-new-tax
Steve Saretsky on Twitter: “Record high 55,000 units under construction in BC. #HousingBoom… “
https://twitter.com/SteveSaretsky/status/969375779669688320/photo/1
10,800 housing units sit empty in Vancouver, most are apartments | CTV Vancouver News
https://bc.ctvnews.ca/10-800-housing-units-sit-empty-in-vancouver-most-are-apartments-1.2808161
