In 2016-17, the deficit was $0.991 billion but $6.276 billion was added to the net debt.
Between 2000 and 2016, average mortgage interest rates fell by almost two-thirds.
From 2000 to 2014, the maximum mortgage for the average family grew by 126 per cent.
In countries whose currencies have risen against the U.S. dollar, there’s “flow-through deflation” as imports get cheaper.
In three of the world’s richest countries, average real wages are lower today than they were in 2010.
Encouraging home ownership may deter the labour mobility vital for a dynamic economy.
The Bank of Canada and other central banks around the world have artificially lowered interest rates, making investment and risk-taking much cheaper.