HASH(0xbf073c)

More government intervention may be needed to cool Toronto house prices: Scotiabank

Scotiabank sounds warning on Toronto real estate

TORONTO — The head of Canadian banking at Scotiabank says further government intervention will be needed if Toronto house prices continue to soar after the spring homebuying season.

James O’Sullivan says the Toronto housing market is one that policy-makers should be most concerned about in the country.

O’Sullivan says Scotiabank (TSX:BNS) hasn’t developed a position yet on what measures should be implemented, but if there’s government action, the bank will support it in the interests of avoiding a “hard landing.”

Politicians at various levels have been scrambling trying to figure out what to do to curb housing costs that have accelerated to the point where many say they feel priced out of the market.

Ontario Finance Minister Charles Sousa has promised some sort of housing affordability measures in the province’s upcoming budget.

The average price of homes sold in the Greater Toronto Area in February soared 27.7 per cent compared with the same month a year ago.

ai???

The Canadian Press

Just Posted

Reducing the risk of wildfire in Kaleden

Kaleden community organizing forum to plan for future wildfires

Snowfall warning between Merritt and Hope

As much as 20 centimteres of the white stuff is expected along a stretch of the Coquhialla

Pen High Lakers make strong showing against KSS Owls

Penticton Lakers fought hard through to final set

Back-to-back wins for the Vees this weekend

Penticton Vees take down Capitals 10-1

Reel Reviews: Justice for a classic

We say, “Murder on the Orient Express is pretty, but maybe too familiar to be perfect.”

Drones used in search for clues about missing women

A volunteer search party was supported by professional drone operators

‘An officer and a gentleman’: Const. John Davidson is laid to rest

Thousands attend memorial service for slain Abbotsford Police officer

VIDEO: Coquihalla closed both directions near Merritt

Detours are available via Hwy. 8 and Hwy. 1

VIDEO: The Last Jedi is going to be the longest ‘Star Wars’ movie yet

Newest movie in the franchise will beat Star Wars: Episode II - Attack of the Clones

REPLAY: B.C. this week in video

In case you missed it, here’s a look at replay-worthy highlights from across the province this week.

PHOTOS: Procession and funeral for Const. John Davidson

Thousands attended celebration of life for Abbotsford police officer

B.C. Liberal leadership candidates debate different paths for party

Third debate held Sunday, Nov. 19 at Nanaimo’s Vancouver Island Conference Centre

LIVE: BC Liberals kick off leadership debate in Nanaimo

Candidates’ forum is at noon at Vancouver Island Conference Centre

WATCH: Thousands gathering in Abbotsford for Const. John Davidson funeral procession

Celebration of life to follow at Abbotsford Centre at 1 p.m.

Most Read