Ottawa Not Rulling Out Further Reforms To Cool Canada’s Hot Housing Market
Morneau not finished addressing hot housing markets: ‘There are clearly supply issues in … Vancouver and Toronto’
Finance Minister Bill Morneau says he recognizes supply issues are at least partly responsible for fast-rising housing prices in booming cities such as Toronto and Vancouver, and is not ruling out further targeted reforms to cool Canada’s real estate market.
However, in an interview with the Financial Post on Thursday, he said the federal government must be mindful that whatever it does affects the entire country and may have negative consequences in markets that don’t share the demographic characteristics of metropolitan cities in British Columbia and Ontario.
“We’ll always consider whether we should be looking at new (federal tools), but we’ll do that recognizing that our approaches are national and when we look at what happens to the Toronto and Vancouver markets, we also need to remember what happens to the Moncton and Winnipeg markets,” Morneau said Thursday.
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