Finance Minister Jim Flaherty Is So Concerned About Toronto's Condo MarketHe's so concerned about Toronto's Condo market, that he has abandoned the convervatives' Laisse Faire ideals to stife growth in the faster growing job creator in the Canadian Economy. And Trust me it's not the oil sands. Construction lead the way for Toronto, increasing it's share of Canadian GDP to 7% and leading to the majority of the growth in the 40,000 new jobs created in Canada last month. Likely no surprise that CIBC, ranked the Toronto Ecomony number 1 in the country due to it's diversifed underpinnings and fast growing construction and automotive manufacturing sector. This does not fit in with the conservative narrative of pushing Oil Sands First, so it's time to bring in the cabinet, and figure out a way to shut down the Toronto Construction Machine. Let's increase regulation and burden on developers, let's make it harder for people to qualify for a loan, and then when the condo market has to retrench to get it's footings, lets see if the naysayers and doomsayers starting crying crash. It worked! Presto. No worries, they weren't gonna vote for us anyways.
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