Fiscal belt tightening a ways to a means

By all appearances, reports and statistics, the Canadian housing market is in a Goldilocks state: Not too hot, not too cold, just right.

But three mortgage bears could change the story.

Finance Minister Jim Flaherty and Bank of Canada governor Mark Carney have been flying red flags about increasing Canadian household debt levels.

To curb it, mortgage qualifying regulations have been tightened four times in four years, making it difficult for home buyers teetering on their own personal fiscal cliffs to buy a home.

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