![Vancouver house price correction looms: Bank of Canada](https://citywidemortgage.ca/wp-content/uploads/2016/06/vancouver-home-500x220.jpg)
The Bank of Canada is warning of a potentially sharp increase in unemployment and a severe recession if Vancouver’s housing market continues to grow unchallenged.
In its financial system review, published Thursday, the central bank said the result could be a “broad-based correction in house prices” that could make many mortgage payers owe more than what their house is worth.