Canada not in midst of housing bubble: Former housing and mortgage head
CTV
The former CEO of the Canada Mortgage and Housing Corporation says the many factors contributing to Canada's increasingly hot housing market, while notable, aren't cumulating in a housing bubble.
In an interview on CTV’s Question Period airing Sunday, Evan Siddall, who was at the helm of the body from Jan. 2014 to April 2021, said “I don’t think we’re in a bubble, I really don’t think we’re in a bubble.”
“If demand is going up and supply is not, prices will go up, that’s not a bubble. So it’s a question of what the future brings and whether there will be supply and demand coming back into balance and that’s a crystal ball question.”
His comments come amid criticism directed at the Liberal government from opposition MPs, including Conservative finance critic Pierre Poilievre, who says Ottawa is contributing to a housing bubble.
“Not only are Canadians spending more when they buy a house, now they have to pay more on their taxes for the failed programs that this minister and government put in place to inflate the housing bubble to begin with,” said Poilievre during question period last week.
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