There’s a worrisome gap between the importance of the housing market to the economy and the publicly available data on its workings, says Benjamin Tal, deputy chief economist of CIBC World Markets.
“This situation is unhealthy,” he says in a report titled Flying Blind. “Due to competitive reasons lenders cannot reveal all the information they sit on, while other players are forced to use their limited information to make decisions. The key issue here is that the partial but publicly available information is what really controls the agenda.”
Tal says making important housing data more accessible can help reduce the risk of a bubble in the market.
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