In Canada house prices are out of control. A lot of what has pushed home prices through the roof are record low interest rates and insane amounts of debt. Canadians currently have the highest debt to earning ratio in the world. Record low interest rates have driven the masses to borrow unimaginable levels of money. Compared to house prices in the US, Canadian house prices have continued to rise since 2008. Along with the ever-increasing house prices, the amount of debt Canadians are carrying have risen to unsustainable levels. In this short video I go over the current economic situation in Canada and go over a few charts that really highlight what is going on here.
I hope you enjoy. Please up-vote and share your thoughts in the comment section.
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