04.04.2012 - Canada: Another housing market bubble about to burst
Canadian home prices have increased steadily since the financial crisis hit and Michael Lombardi, lead contributor to popular financial newsletter Profit Confidential, believes that Canada is potentially setting up for a very nasty fall in home prices. “Canadian banks are responding to the slowing housing market and are trying to reinvigorate home prices and the housing market,” says Lombardi. Lombardi states that, unlike the Federal Reserve’s response in 2007, the Bank of Canada is extremely worried about the housing market in Canada, repeatedly warning that Canadians are getting into too much debt. (Press Release)