OECD urges Canada to enact stricter housing regulations

Ottawa

CANADA'S housing regulations should be further tightened and regionally targeted to help cool real estate markets that are booming in some of its major cities, a report from the Organisation for Economic Co-operation and Development (OECD) recommended on Monday.

A disorderly housing market correction, particularly in Toronto and Vancouver, remains the main domestic downside risk to Canada's economic outlook, the OECD said.