Quote:
Originally Posted by chemgear
Carney keeps warning people of household debt - given the continued rise, it's obvious people are ignoring him. Though, I did find it interesting how he worded his recent comments:
http://business.financialpost.com/20...ps-norm-by-35/
Mr. Carney said when it comes to household debt “the message is one of prudence and caution,” adding that the average home price in Canada is about 4.75 times people’s income, while the historic average is closer to 3.5. |
This needs more clarification from the Carnster. Who cares if your home price is 20x your income if you have a 90% down payment. I assume he's referring to the mortgage amount not the house price but he doesn't explicitly state it.