Where to from here?

The mad dash to Boxing Day sales across Canada this week has been described as debt-defying, in deference to repeated warnings that escalating household debt is our country’s “biggest domestic economic risk.”  And what’s the largest contributor to household debt in Canada?   The $1.079 trillion residential housing sector, which also happens to be the largest contributor to consumer spending that’s been juicing our country’s economy through the 2008-09 recession to present.  While economic forecasters hope for ‘soft landings’ in our overheated housing market, encouraging signs south of the border point to guarded optimism of being further down the track to recovery from the housing debacle that was.  As we look to the New Year, we share the glass-half-full point of view!

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