Canada won’t interfere in housing market — for now: Flaherty
The Canadian government has no plans for now to clamp down on the housing market even though prices are rising again, Finance Minister Jim Flaherty said on Monday.
Following the Bank of Canada's most recent announcement that the prime lending rate will not be rising anytime soon, Finance Minister Jim Flaherty has indicated he has no intention of interfering in the housing market. He did, however, pledge to investigate the recent increase in home prices. Since 2008, there have been several moves initiated by Flaherty to "cool" the housing sector.
Flaherty has mentioned on several occasions his contentment with the effects of the tightened mortgage regulations, and has said he will continue to seek out people in the building industry to keep an open dialogue about the current state of the market.