Mark Carney: Housing in Canada Remarks by Mr Mark Carney, Governor of the Bank of Canada, to the Vancouver Board of Trade, Vancouver, British Columbia, 15 June 2011. *  *  *  Introduction It is a pleasure to be back in Vancouver, a place often rated as the world’s most liveable city. Less frequently is it viewed as the most affordable.
In the past three years, the average Vancouver house price is up about 30 per cent, making this city an extreme example of general developments in Canadian housing. In my remarks, I will discuss the Canadian residential real estate market, consider some of the lessons from recent international experience and, finally, draw the policy implications.