Speaking Thursday at the Bloomberg Canada Economic Summit, Mr Oliver said that if a need arises the government will act as appropriate.
He also paid tribute to the work of the Canada Mortgage and Housing Corporation for making homeownership more accessible for more people and dismissed the idea that it may be privatised within the next decade.
He acknowledged, though, that it may become “somewhat less of a player” with private mortgage insurers taking more of the load from the federal agency.
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Finance minister Joe Oliver says that there is no need for the federal government to make any immediate shifts in housing policy.