Central banks dont recognize it themselves given the huge amount of money being ploughed into housing, to attain the rampant speculation their low interest policies created. There was an article I saw today that there isnt even a housing shortage, just dimwitted people bidding up home values much like the US prior to 2008.
Housing obviously acts as a liquidity sponge for debt to increase the wealth effect, but surely there is a reckoning like the US had at the end of all of this.
Central banks dont recognize it themselves given the huge amount of money being ploughed into housing, to attain the rampant speculation their low interest policies created. There was an article I saw today that there isnt even a housing shortage, just dimwitted people bidding up home values much like the US prior to 2008.
https://betterdwelling.com/canadian-real-estate-shortage-overstated-condos-wont-fix-costs-bmo/
Housing obviously acts as a liquidity sponge for debt to increase the wealth effect, but surely there is a reckoning like the US had at the end of all of this.