By Fergal Smith

TORONTO, April 28 (Reuters) – Canada’s housing market slump, the longest in recent decades, is straining household spending even as a record high domestic stock market generates hundreds of billions of dollars of increased wealth.

Canada was the only Group of Seven advanced economy to post a home price decline last year in nominal terms, ‌the latest Bank for International Settlements data and Reuters calculations show, as many households renewed mortgages at borrowing rates well above pandemic-era lows and as slower growth in immigration reduced ‌demand for housing.

Less consumption due in part to lower housing prices could hinder Prime Minister Mark Carney’s efforts to revive Canada’s economy, which…