Source: Staff The Canadian Press

Bank of Canada governor Tiff Macklem says there are early signs of what he called “excess exuberance,” with people maybe expecting the recent increases in prices to go on indefinitely.

Macklem says the central bank is seeing early signs that people may be purchasing homes solely because they believe prices may go up.

Macklem says rising prices in particular for single-family homes are still a long way from the heated market the country observed about five years ago.

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