Housing Bubbles and Wealthier Canadians

I fear they’ve set themselves up for an even bigger disappointment north of the border than we had in the U.S. a few years back as teetering home prices in Canada are raising alarm bells far and wide after someone did a calculation showing that the average net worth of Canadians passed that of the U.S.

But, the data behind the chart below from this item at Bloomberg played a key role.

There was a segment about this on the Colbert Report yesterday and, as you might expect, they had some fun with attributing the development to “a fiscally conservative form of socialism” up there.