The Bank of Canada says a crash in housing prices remains the biggest threat to the country’s economy, with the risk having increased due to the drop in crude oil prices. According to the BoC, housing is overvalued by as much as 30 per cent, and although there is a low probability of the housing correction occurring, if it did, it would have a severe impact on the country’s financial system.
Bank of Canada Warns of Housing Price Crash
Canadian Immigration Lawyer, Barreau du Québec · 35+ years of practice · Founder, immigration.ca
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About the author
Canadian Immigration Lawyer · Founder & Managing Partner, immigration.ca
Colin R. Singer has been a licensed immigration lawyer in good standing with the Barreau du Québec for over 35 years and has led immigration.ca, Canada’s longest-standing online immigration platform, since 1994. He has testified before the House of Commons Standing Committee on Citizenship and Immigration, contributed to Law360 (LexisNexis) since 2015 and to national media including the Financial Post, and has served as a lifetime Governor of the Fondation du Barreau du Québec since 2009.
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