A better thing to study is what kind of housing they’re buying, where exactly they’re buying it and at what price points. finance ministers and the mayors of Toronto and Vancouver to join him in a look at housing affordability in Canada’s largest cities. But the quickest way to cool the housing market is to invite Bank of Canada governor Stephen Poloz down to the office and agree to let interest rates rise. Retailers who sell things around housing from furniture to housewares to alarm systems will be squeezed. A prime rate of 2.7 per cent will gradually become 3.7 per cent, with mortgages rising by some portion of that.

Source: thestar June 29, 2016 15:36 UTC