There is no fear of a housing bubble, the CEO of the Canada Mortgage and Housing Corporation says in a speech on Friday, Sept.19th. Prices of some Canadian homes are certainly too high, but there is no immediate catastrophe looming for the country’s housing market.
Evan Siddall, who has been the CEO of CMHC since January, was speaking at a conference in Montreal held by the Global Risk Institute.
According to an article by Tara Perkins in The Globe and Mail, the key points that Canadian homeowners and financial players should take away from his remarks, are:
1. CMHC isn’t “overly” worried about a housing bubble right now – but that comes with two caveats.
2. CMHC is still looking at having banks shoulder more of the risk from mortgage defaults.
3. CMHC is considering what it could do to take some steam out of the market if house price growth remains strong or picks up.
4. CMHC may start to publish the results of its stress tests.
Read the full article here >>> No fear of housing bubble: CMHC by Tara Perkins
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