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