Bank of Canada wary of hotter housing market

money-houses

The Canadian economy is becoming increasingly exposed to risks emanating from the housing market, the nation’s central bank announced in its latest health check of the financial system.

Published on June 8, the new Financial System Review – a report that’s published twice a year – revealed imbalances in the Canadian housing market and elevated levels of household indebtedness were the “most important vulnerabilities”.

“Highly indebted households have less flexibility to deal with sudden change