Canadian households lead the world in terms of debt

[Klause]

But a crash cannot and will not happen here.

*Facepalm*
[URL="http://www.cbc.ca/beta/news/business/oecd-debt-1.4415860"]Read this from the OECD[/URL]

[furrowtickler]

As disposable income further erodes this problem will only get worse I would think.

[sofa.king]

Let er crash I won't have to build my retirement house cause someone already has.

[Oliver88]

This overvalued housing problem will get worse if the federal government goes ahead and adds billions to the low income housing budget.

A strong correction in housing prices would be good for the country.

[ajl]

The main reason real estate in Canuckistan has not declined is that everyone knows the end game for Canuckistan is like Venezuela where the government goes nuts and prints cash 24/7. Nominal values never fall, just the currency, so no one is long the loon. The end game is in play now since the B of C did not raise rates in October despite super high debt loads warranting an increase. The economy needs the constant stimulus of deficit financing and loose monetary policy otherwise the coming depression starts immediately. If we suddenly had to stop printing cash, real estate falls like a stone and unemployment surges to 30% just like the 30's and the 80's.

[4GFarms]

Of course it is the highest. Everyone is trying to keep up with the Joneses!! Easy come easy go in regards to getting money and spending it on "essential things".