Americans, British say Canada is a Bubble

The only people who debate whether or not there is a housing bubble in Canada are the Canadians themselves. In the meantime, the rest of the world has already made their conclusions.

British financial magazine Money Week says: - "there is no question about it - Canadian property is in a bubble." But what would a British financial magazine know about Canadian real estate? They may not know much per se, but they know a thing or two about housing bubbles since they recently experienced a bubble burst of their own.

Additionally,  American Business Insider calls a 123% increase in Canadian housing prices between 2000 and now simply "ridiculous". Furthermore it states that Canadian housing is "crazy overvalued". OECD would certainly agree with them. Business Insider also provided this lovely chart:

Canadians are now more indebted than ever before. Anyone who says that the future is bright for Canada needs a reality check. We are all now prisoners of the low interest rates because if/when they rise they will do a lot of damage to the people's wallets.