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No housing bubble in Canada: Flaherty

Reuters
1:50 PM, E.T. | November 23, 2010
Canadian, Real Estate

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There is no sign that Canada has a housing bubble, Finance Minister Jim Flaherty said today, dismissing the idea the country was facing the same kind of property crisis as Ireland.

"The evidence is not there that Canada has a housing bubble. In fact, the evidence with respect to affordability of mortgages in Canada is solid and we have a stable market," he told the House of Commons finance committee.

"It's a long, long stretch to compare our housing market with that of Ireland," he said.

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