CMHC the Canadian Mortgage and Housing Corporation has some very astute economists that understand our economy and how we are positioned globally. This not only allows them to have a very good handle on what we should expect and how to prepare for it, but they also look at what could possibly happen.
As part of this, they consider the following:
Interested in what CMHC had to say about this, check out this Link
Understanding possible scenarios allows our government to make decisions to try to protect us, like what we’ve seen recently in the change of mortgage rules.