Hyper-Stimulative Policies Are Driving Canadian Real Estate Prices, Not Supply: BMO
Canadian real estate prices are unique due to how expensive it has become, but not when it comes to recent price growth. BMO chief economist Douglas Porter explained, once again, monetary policy drove prices higher. Central banks adopted “hyper-stimulative” policies to drive excess demand to push prices higher. To illustrate this, he contrasts Canada with other global real estate markets. Prices are at various levels of affordability, but price growth accelerated after monetary policy changes in 2020.
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