CMHC President: “The Canadian housing market is robust”
The president of the Canada Mortgage and Housing Corporation says that they are not alarmed by high prices and insists that the market is robust. Speaking yesterday Evan Siddall said that the agency is more concerned about levels of household debt and external pressures such as the global economy and the effect that could have on Canadian exports and employment. Responding to questions about the lack of data available Siddall said that CMHC is working to fill gaps in information and stated that transparency is important to the agency. He also confirmed that CMHC is continuing its “conversation” with the banking sector with the aim of it taking on more of the risk for home loans, reducing the federal agency’s exposure.