The message again was simple, be prepared for interest rates to rise and with all the mortgage debt most Canadians are carrying, be prepared for those rate hikes to take a much bigger part of any budget.
According to the central banker there were signs the average home selling price was 11 times higher than the average income (Asian wealth from abroad) and a possibility of too many Toronto and Vancouver Condos under construction.
Mr Carney said some parts of the housing market may be acting like the classic bubble with expectations of rising prices and ever higher returns driving demand rather than the classic supply and demand of years gone by.
So, even as the central banker warns of the impact of higher rates because of all the debt Canadians carry, the Canadian housing market continues to heat up.
Pictured above: One Bedford Condos For Sale Or Rent
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