Bank of Canada: Prices in some housing markets a 'downside risk' to economy

Home prices in some Canadian markets may have risen too fast and present a “downside risk” to the nation’s economy, economists at the Bank of Canada warn.

Home prices across Canada were up 8.8 percent in September from a year ago, but reduced affordability is denting sales — Toronto is on track to see the fewest new-home sales in a decade, the Huffington Post reports, citing statistics from the Building Industry and Land Development Association. Source: