There’s a bidding war for government action on Canada’s soaring housing market, but as fingers point to foreign buyers as a reason for escalating prices, governments at all three levels are not yet motivated to cool the market down.

Young Canadians complain home ownership is increasingly beyond their reach. Governments fear rules to put a lid on stratospheric prices — expected to show another strong increase in today’s real estate data for April — could have an an economic impact far beyond the first-time buyer market.

Governments terrified of popping foreign-buyer housing bubble