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Canada’s housing market is in “serious trouble,” according to a Business Insider report citing analysis by Deutsche Bank chief international economist Torsten Sløk.

“Simply put, debt levels are very high, and with sky-high home prices cooling off, we could see pressure on the Canadian financial system and labor markets,” explains the report.

Read more, along with charts from Sløk’s slide deck.

Also read:

Housing to stabilize in 2015 as rates rise

5 tips to help real estate investors prepare for downturn

4 investment tips for 2015

Originally published on Advisor.ca

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