Morneau hints at more steps to slow housing market

  6/23/2016 |   SHARE
Posted in Real Estate Market by Vanguard Realty | Back to Main Blog Page

Finance Minister Bill Morneau hinted his government will take additional steps to rein in housing prices in Toronto and Vancouver, the country’s two most expensive markets.

The Canadian government is setting up a working group that will include officials from the two cities, and the provincial governments of Ontario and British Columbia, the finance department said in a statement. The group will study the matter in coming months and make proposals.

“By collaborating even more closely with our provincial and municipal partners, we will ensure a coordinated approach, and make use of the best available evidence to arrive at the right conclusions,” Morneau said in the statement.

In a speech Thursday in Toronto, Morneau said it’s understandable that people are worried about affordability in housing markets.

Source: Bloomberg News

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