November 12, 2013 / 8:48 PM / in 4 years

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

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.

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

“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

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