Results are in from the latest Reuters poll on Canada’s rampant property market from economists and market analysts, and the message is everything’s fine.
Prices will rise gradually over the next few years and there is very little risk of a crash.
But house prices in Canada have been rising in nearly a straight line for the better part of a generation, more than doubling, and taking household debt up with them.
They have risen by more than a third since the market last paused for breath five years ago, at the start of the financial crisis.
Meanwhile, Canada’s household debt to income ratio has soared to more than 160 percent, much higher than where it was in the U.S. before the crisis, and nearly as high as it was in Britain in 2007, where house prices have taken off again in the past year after spending years in the doldrums.