While Canadian households may be setting new highs in debt-to-income ratios, the country’s corporations, governments and citizens are in a much stronger position to handle that risk, a new report from the Bank of Nova Scotia said Thursday.
Tagged: TD Bank
Canadaâ€™s real estate market is due for a â€œmoderate correctionâ€ with homes that are anywhere from 10 to 15 per cent overvalued, says the TD Bank.
â€œThe excessive pricing of Canadian housing in relation to fundamentals is now clearly correcting,â€ TD Bank economist Grant Bishop said in an economic note Monday. â€œWe expect a moderate correction in prices over the coming year.â€