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Canada tackles runaway home prices in Toronto, Vancouver

3 federal agencies announce tightening measures, aiming to reduce risk to nation's financial system

The balancing act for Finance Minister Bill Morneau is to target higher-end homes in Toronto and Vancouver, without precipitating a major decline elsewhere in the country where prices are falling or flat.


CANADIAN regulators are seeking to clamp down on runaway prices in the country's two most expensive housing markets - Toronto and Vancouver.

In a coordinated effort by the three federal agencies that oversee home borrowing, Canadian authorities on Friday said that they would