The housing crisis has little to do with the Federal government, or for that matter, the Bank of Canada.The States set interest rates and we have to fellow along at a few points greater. The Bank is independent, but the rules are well known to anyone who has an interest in economics. The provinces set the building codes and the cities enforce them. So that is where the housing costs come from.
Canada didn't have an 2008 crash in the housing market, we have regulations to prevent that.
