Canada's Flaherty does not fear crash landing for housing

OTTAWA Thu Nov 22, 2012 4:46pm EST

OTTAWA Nov 22 (Reuters) - Canada's housing market appears to be cooling at a moderate pace rather than crashing, Finance Minister Jim Flaherty said on Thursday in an interview with the Business News Network.

Asked whether he feared housing prices are falling too quickly, Flaherty said he did not. "I'm glad that it is moderating. That was our goal, to reduce demand, especially in the condo sector in Vancouver and Toronto and we've seen that," he said.

"It's a difficult market, it tends to boom and bust ... so we're hoping we can get a middle ground here that will be neither of the above."