Bank of Canada Senior Deputy Governor Carolyn Rogers explains why Canada’s housing affordability problem has become increasingly difficult to solve.
In a detailed address, Rogers says interest rates influence housing prices but are a blunt tool that cannot directly address supply constraints. She examines the trade-offs between housing affordability, household wealth, financial stability and economic growth, while discussing the role of mortgage debt, supply constraints, immigration and investment.
Rogers also explains why there is no simple way to measure housing costs in inflation and outlines the broader policy mix she believes is needed to improve affordability.
The discussion covers Canada’s housing market, monetary policy, interest rates, mortgage debt, productivity and financial stability.
#Canada #HousingMarket #BankOfCanada #HousingCrisis #InterestRates #CarolynRogers #CanadianEconomy #MonetaryPolicy #HousingAffordability
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