According to Canada Mortgage and Housing Corporation ( CMHC ) , the recent decline in new house building projects , increases in housing permits , low interest rates pushing up house prices , and The number of housing starts in Canada was 199,169 units in January, compared to 203,304 units in December, according to Canada Mortgage and Housing Corporation (CMHC) data published on Monday. the increased ratio of household debts may signify an imminent housing bubble . CMHC estimates the number of housing starts in Canada was 300 units in January 2016 , compared with 203,304 in December 2015 . Statistic Canada revealed an 11.3 % rise ( $ 6bn ) in housing permits issued in Canadian municipalities in December 2015 , and a 19.9 % decline in November 2015 , induced by increases in multi - family building permits in Quebec , Ontario , British Columbia and Alberta . The Canadian Central Bank refuses to increase interest rates to control excessive household debt . Meanwhile , the “ " mail ” phenomenon returns , where Canadians send keys back to banks in order to exit mortgages .
According to Canada Mortgage and Housing Corporation ( CMHC ) , the recent decline in new house building projects , increases in housing permits , low interest rates pushing up house prices , and the increased ratio of household debts may signify an imminent housing bubble . CMHC estimates the number of housing starts in Canada was 300 units in January 2016 , compared with 203,304 in December 2015 . Statistic Canada revealed an 11.3 % rise ( $ 6bn ) in housing permits issued in Canadian municipalities in December 2015 , and a 19.9 % decline in November 2015 , induced by increases in multi - family building permits in Quebec , Ontario , British Columbia and Alberta . The Canadian Central Bank refuses to increase interest rates to control excessive household debt . Meanwhile , the “ " mail ” phenomenon returns , where Canadians send keys back to banks in order to exit mortgages .