When housing cannibalizes the economy: Why Canada’s over-reliance on real estate sets up for a challenging future
Housing is in crisis in Canada. House prices and consumer debt levels have run out of control. Canada’s economy is increasingly reliant on housing investment and consumer spending to generate growth. But it’s folly to think that we have eliminated the housing cycle in Canada. The current boom will eventually end, and when it does, how bad could it get and what sort of fallout might we expect to the broader economy?