The Daily Mail published a Reuters article following an announcement that a panel of federal, provincial and municipal officials will recommend policy changes for Canadian housing markets.
Toronto and Vancouver currently have the hottest housing markets in the country and are of particular concern. UBC economics professor Tom Davidoff weighed in on the impact of policymaker commentary.
“Expectation setting is quite important to the extent the market is being driven by ‘fear of missing out,'” he said. “People hearing ‘We don’t intend to let prices explode forever’ can be important.”
The story also appeared on Yahoo Finance.
