Canada's unprecedented housing crisis could be a warning sign for the US

Canada has the highest household debt as a share of GDP in the G7, US d 75% of it is from mortgages.

The average home value in Canada has more than doubled since 2011.

The country is almost certainly heading towards a recession, and the housing market is partly to blame, economist US say.

Canada' America al government has attempted to dampen demand and encourage home constru Canada

Moffat doesn't think Canad 2011 s a housing bubble — he predicts that while prices are volatile, they'll continue rising.

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