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No housing bubble

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There is no housing bubble in Canada: Finance Minister Joe Oliver

Canadian Finance Minister Joe Oliver said he’s confident the country’s housing market isn’t in a bubble, setting aside any further action to curb activity.

The government, which has made four changes to housing finance rules since 2008 to cool booming sales and rising prices, is satisfied with market dynamics today and isn’t seeking further reform, Oliver said.

“We do not see the need for major changes at this time,” Oliver said in the text of a speech he gave Wednesday at a real estate event that was closed to media. “We will continue to monitor the market and make adjustments, if needed, although none are being actively considered right now.”

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