That's one of the main takeaways of a new report from Mortgage Professionals Canada, an industry group that represents 11,000 mortgage brokers across the country. "A much greater risk to the housing market would be policy changes by mortgage insurers or mortgage lenders that make it harder to finance home purchase," the report says. Still, group isn't without some concern about the housing market. "We should accept that foreign buying is very substantial in Vancouver and that the Vancouver housing market is being severely distorted in consequence," the report said. There is no housing bubble, and any misguided attempts to fix one will cause bigger problems in the long run.

Source: CBC News June 29, 2016 14:37 UTC