Canadian real estate has long been frothy, but how does it look compared to other countries? According to the US Federal Reserve (the Fed) exuberance index in Q1 2021, pretty bad. Only two G7 countries are considered exuberant markets (a.k.a. bubbles) — Canada and Germany. Those two countries are also the longest-running bubbles of any advanced economy. The longer a market remains exuberant, the greater the drag on quality of life and the economy. They also tend to require much larger corrections, with greater economic fallout.
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