High debt and over-valued housing haunt Canada

As oil revenues recede and jobs wobble, over-indebted Canadian households are extremely vulnerable. No wonder CMHC is downsizing, and Canadian bank shares (hideously over-valued) are falling…

Consumer debt loads and house prices that could be as much as 30 per cent overvalued are the two biggest risks to Canada’s economy, the Bank of Canada warned in its semi-annual Financial System Review on Wednesday. Here is a direct video link.

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