CMHC probing Canadian house 'premium'

CBC NEWS

 Canada Mortgage and Housing Corp. says Canadian housing prices have been higher than U.S. prices in real terms since 2006, an indication that the market here may be overvalued.  It made that assessment in its annual review of the Canadian housing market released Thur, comparing house prices in Canada and the U.S. controlling for differences in exchange rates and the cost of living.  "The Canadian 'premium' could be a cause for concern," the report said.

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