2012-06-17 — vancouversun.com
Canada's financial system remains highly vulnerable to a further deepening of the European debt crisis and to a correction in the housing market, which is showing some overvaluation, the Bank of Canada said on Thursday.
Low interest rates since the 2008-09 recession have contributed to a heated housing market and the high household debt. Policymakers are particularly worried about a condominium boom in Toronto, while some reports suggest property prices are gradually cooling in other parts of the country.
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