Canada's Flaherty: Will intervene in housing market if necessary

Tue Nov 12, 2013 3:46pm EST
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EDMONTON (Reuters) - Canada's government will clamp down again on the housing market if necessary to prevent a bubble forming, Finance Minister Jim Flaherty said on Tuesday.

"We have to watch out for bubbles - always - in markets around the world, including our own Canadian residential real estate market, which we keep a sharp eye on. And I've intervened four times in the last several years and I'll intervene again if I have to," Flaherty told a business audience in Edmonton.

Flaherty has intervened four times since 2008, each time to tighten mortgage restrictions.

(Reporting by Nia Williams, writing by David Ljunggren)

Residential and commercial buildings are pictured in Vancouver, British Columbia June 20, 2011. REUTERS/Jason Lee