The condominium market in the Greater Toronto Area experienced “an observable oversupply, with a substantial influx of new completions,” a report on the market said. Photo by Peter J. Thompson / Financial Post

Canada’s top banking regulator says he is not concerned about the impact of a weakened urban condominium market on the country’s top lenders and that the trends might help ease Canada’s affordability crisis for young homebuyers.

“Overall, capitalization of the banking system is sufficient to deal with challenges in commercial real estate and in newly built condominiums in Toronto (and) Vancouver that may not be moving as quickly as in the past,” Peter Routledge, head of the Office of the Superintendent of Financial Institutions (OSFI), said at the Scotiabank Financials Summ

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