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Canadians open to rate hikes to cool housing market: Poll

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Canadians are so alarmed by the red-hot housing market that many say they’d like to see the central bank raise the cost of borrowing to dampen demand for real estate and stabilize prices.

About 70% of Canadians responding to a new Nanos Research poll conducted for Bloomberg News said the sharp increase in home prices was a major problem for the economy. Almost half were at least somewhat in favor of the Bank of Canada raising its overnight rate to slow the rise, even though such a move would also increase the cost of credit lines, credit cards and other debt.

The numbers…

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