The Honorable Jim Flaherty has popped up in the media again with his regular scheduled reassurance that there is no Canadian housing bubble.
OTTAWA – There is no sign that Canada has a housing bubble, Finance Minister Jim Flaherty said on Tuesday, dismissing the idea the country was facing the same kind of property crisis as Ireland.
“The evidence is not there that Canada has a housing bubble. In fact, the evidence with respect to affordability of mortgages in Canada is solid and we have a stable market,” he told the House of Commons finance committee.
“It’s a long, long stretch to compare our housing market with that of Ireland,” he said.
No property bubble, nowhere, no how. Does that clear everything up?