Stable supply and demand in a free market (i guess a limited free market in Canada) or in capitalism is supposed to be dictated by the consumer not by shifts in the demand curve created by the government through changes in policy. By cutting large chunks out of the buyer market and making it hard for consumers to buy up good ol Jim has made the demand curve shift. It would appear to me that this has kept a over supplied condo market from correcting all by its self.

Based on what I am seeing in my day to day business it appears that some clients that would like to sell can’t right now because of the drop in values making the equity achieved out of their properties to small or in the some condo clients cases a loss. I would guess that like in most political cases when elected officials look back and realize that they have made such a mess of things that it can be fixed they tend to move on.

Side note over a year ago or more on Lang and O’leary there was a comment made that Carney was being looked at for the bank of England and that he would most likely be leaving for that position.