Employment Gains: Federal Finance Minister Jim Flaherty

Federal Finance Minister Jim Flaherty: They suggests that population growth and employment gains will keep the condo market healthy enough to absorb the supply of new units, according to CBC. Federal Finance Minister Jim Flaherty said his department watches the condo and housing market and has acted to cool it over the past 18 months and Canadas condo market is not headed for a bust, although sales are expected to drop for 2013, according to a new report from mortgage insurer Genworth Canada and the Conference Board of Canada. Economists and real estate experts have expressed concern about major centres such as Vancouver, Montreal and Toronto where condo construction continues at a rapid pace, despite falling sales. (www.immigrantscanada.com). As reported in the news.