Canada's Housing Bubble

Nov 24, 2010 reuters.com

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 (Reporting by David Ljunggren; editing by Peter Galloway)