The housing price in Canada nearly doubled in the period 1995-2006.This implies that

Question

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The doubling of housing prices implies that Canadian homeowners' wealth has increased, which may lead to higher consumption. This is because individuals may feel wealthier due to the increased value of their homes and may feel more comfortable spending money. It is important to note, however, that this may not necessarily lead to increased consumption as there could be other factors at play, such as changes in interest rates or economic conditions.

The Housing Price in Canada Nearly Doubled in the Period