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Household debt, housing market froth biggest risks: Bank of Canada
The Bank of Canada warned household debt vulnerabilities are intensifying amid a surge in housing prices that’s being driven in part by speculative activity. In its annual Financial System Review, the Ottawa-based central bank said Thursday there are signs people are buying houses in some regions of the country with the expectation prices will continue to rise, which creates unsustainable dynamics. High home prices across the country, meanwhile, have led many households to take on larger mortgages relative to their income, putting them in a precarious situation should the economy take a downward turn. At the same ... (full story)
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