The housing market in Canada is in good health, according to economists

The property market has received Canadian Friday a bill of health from one of the largest banking institutions in the country, thus allaying the fears expressed by the Bank of Canada's debt levels too high for consumers .

In a report on real estate and stock markets, economists at CIBC World Markets argued that the concerns of the central bank were exaggerated even if it was right to make.

According to the chief economist of CIBC, Avery Shenfeld, Canada will not experience a crisis SIMILAR to that recently affected the housing market and mortgage lending in the United States.

Last week, Bank of Canada stated that the record level of debt of Canadian households was the first danger that threatened the financial system, a warning repeated in Toronto earlier this week by the Governor of the Bank, Mark Carney.

The institution was recognized that the risk was low, but was worried that, should a return interest rates to normal, more than 10 per cent of households have difficulty meeting their monthly payments.

Economists at CIBC vindicated Mr. Carney on rising interest rates, which likely occur during the second half of 2010, but does not believe that it will endanger a bulll, whether on the lending market mortgage or the ordinary shares.