Why Canada's Real Estate Market Is Becoming Too Big to Fail

It was all about to come crashing down. That’s the conclusion one would draw from reading the Canadian business press in the spring of 2017, which, after giddily cheering the housing boom, now heralded an inevitable bust. A favourite theme: Canadians appeared to have lost their minds over houses the same way their American cousins had ahead of the financial crisis of 2008. Nondescript detached homes in hard-luck Hamilton, Ontario, were selling for $1 million. In Vancouver, prices had