Oliver says there’s no housing bubble

by Jamie Henry | 29 Jan 2015

Some people will never be convinced but yesterday federal finance minster Joe Oliver again repeated the government’s opinion: “we don’t think there’s a bubble.” He said that the CMHC and the Organization for Economic Cooperation and Development agree. Oliver said that the government is monitoring the situation regarding the housing market and levels of personal debt, especially with interest rates trending lower, but they do not see a major concern currently and believe that people are not buying homes they can’t afford. The finance minister was also asked for his opinion of the banks reducing their lending rates by less than that of the central bank but he would only say that it is a “private sector decision.”