The Globe and Mail reported over the weekend that the heads of the six largest banks in Canada spoke privately with the head of the Bank of Canada back in November, over their concerns of a collapse of the Canadian housing market.  The banks want the government to enforce stricter rules on mortgages because they see some of the same warning signs which led to the U.S. housing collapse here in Canada.  Finance Minister Jim Flaherty said that there is no compelling evidence of a housing bubble in Canada, but then went on to say that there are signals in the market that are concerning.

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