Canadian housing market exhibiting phenomena we’ve seen before…

“OTTAWA – Bank of Canada governor Mark Carney has repeated his concern that Canadians may be getting in over their heads in the purchase of homes, saying the government has ways of slowing the market. Carney told a Senate committee Wednesday afternoon that the central bank is conducting an analysis of whether Canadians are taking on too much debt, particularly in buying homes. ”

So, excessively low rates, predatory lending — and in a strangely roundabout way the taxpayer again on the hook: although this time via the CMHC instead of a bank bailout. Bubbliscious