Also: The stress test is helping prevent a potential financial crisis, the head of CMHC says
Story continues below advertisementagainst a “debt-fuelled real estate boom.” Evan Siddall of Canada Mortgage and Housing Corporation warned that 10 years after the U.S. housing crash, “we have fallen into the ‘this time is different’ trap of complacency.”
Siddall said changes proposed by real estate industry groups would drive up home prices and lead to more borrowing by Canadians who are already heavily indebted. “My job is to advise you against this reckless myopia and protect our economy from potentially tragic consequences.”“I don’t think Nancy Pelosi understands the deal. It’s too complicated,” the U.S. President said of the House Speaker at a White House news conference.
Progress appeared in sight after the U.S. dropped steel and aluminum tariffs last week; Ottawa plans to set its ratification process in motion as early as next week.China’s ambassador to Canada says it’s up to Ottawa to repair relationsare at a “freezing point” and that Canada should make amends by allowing Huawei executive Meng Wanzhou to return to China, saying her situation is a “political issue.
U.S. President Donald Trump, meanwhile, called Huawei a “very dangerous” company but said he might negotiate its ban from 5G networks as part of a China trade deal.in Canada as a security-focused alternative for 5G technology. Rogers plans to work with Sweden’s Ericsson on 5G, but BCE and Telus – both of whom worked with Huawei on 3G and 4G – have yet to decide on a 5G vendor.
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