World watches Canadian home prices

OTTAWA — Observers across the globe are “agog” at Canada’s home prices and household debt levels, the Globe & Mail reports. Groups ranging from the Bank for International Settlements to the Organization for Economic Co-operation and Development will be watching the Canadian Real Estate Association’s home resale figures this week to see if the restoration of “sanity” to home borrowing patterns sticks. “Ten years of macro-prudential policies have helped to mitigate household borrowing behaviour threats to the financial system, but risks still remain,” Citigroup economist Dana M. Peterson told the Globe.