CMHC concerned that housing here is more expensive than US

The Canada Mortgage and Housing Association has expressed concern that homes here remain more expensive than those south of the border.

The agency says that it suggests an over-valued Canadian market and it wants to find out why the situation persists.

While chief executive Evan Siddall described the housing market as “robust” a month ago CMHC is mindful of the possibility of a sharp correction and the impact that would have especially given Canadians’ high levels of household debt.

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