Osborne Copies Obama To Save Economy-Changing Course

Thrugelmir

Originally Posted by DecentLivingWage
Apparently the decision not to apply more QE is only temporary while they are waiting for Carney to arrive in July....

Not the saviour people think he is.

Carney added that Canadians would do well not to think that they can rely on their home’s value to pad their retirement nest egg.
“That’s the right way to think about it,” he said. “Is the value of your home going to continue to inflate? I mean real wealth is built though innovation, it’s gained through hard work. It’s not through some magical asset inflation.”
He added that it seems that Canadians are finally starting to accept that, particularly now that housing markets have begun to cool.
“So we’ve seen adjustment in the housing market, we think there’s a bit more to come in the next few years. Again, I think Canadians have listened to the message and they are adjusting.”
Carney has warned homeowners many times about the perils of assuming that interest rates would remain low and house prices would remain high.
He worried that too many homeowners could find themselves making monthly mortgage payments they cannot afford for a house that’s no longer worth what they thought it was.

http://www.ctvnews.ca/business/carney-warns-of-retirement-risks-from-inflated-housing-prices-1.1158548