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Mortgage Broker News | 17 Mar 2017, 08:15 AM Agree 0
Desperate times call for desperate measures, according to two big banks
  • Chad | 17 Mar 2017, 09:41 AM Agree 0
    Its funny that lenders who should be trained economists are so blind. They keep trying to tinker with the demand side of this problem, yet completely ignore the supply side. Find a why to increase supply and make it more affordable. Reduce the building costs, give an incentive to builders if a price is below a certain threshold. Induce the market to become creative. There is a ton class b land that is not developed due to government regulations. Don't add more rules, GET OUT OF THE WAY.. This bubble has been caused by too much regulation on the supply side.
  • | 17 Mar 2017, 10:02 AM Agree 0
    Any addition intervention have to be GTA specific. Other communities outside the GTA have been flat for several years. Supply is the issue in GTA. Address building regulations, not mortgage regulations.
  • Tim | 17 Mar 2017, 10:18 AM Agree 0
    Of course TD and CIBC could just stop lending in those markets ...
    • Angela Z | 17 Mar 2017, 12:50 PM Agree 0
      That was my first thought!
  • Omer Quenneville | 17 Mar 2017, 10:27 AM Agree 0
    Supply is the problem and that stems from the double land transfer in the city of Toronto. First time buyers can't afford to trade up which is keeping supply tight. I have a client looking to trade up to a new development and the cost of levies and double land transfer tax comes to $30,000.00. Government tax and regulation policies got us into this mess and it won't get us out. Nothing wrong with the supply chain outside of Toronto.
  • BC | 17 Mar 2017, 12:37 PM Agree 0
    I think that a separate insurance pool for rental property mortgages might be in order. Canada's immigration goal is 300,000 / yr for 2016 & again for 2017 - 600,000 and these folks need housing! The federal gov't then decides to make rental prop mortgages uninsurable ??? so if there was already a housing issue they've made that worse. Perhaps a separate mortgage insurance option for rentals - get them off the books at CMHC & Genworth & at the same time provide an option for builders to increase rental units via purpose built projects. Also would be an avenue for individuals to purchase / convert existing properties for rentals.
  • Ron Hollett | 17 Mar 2017, 12:57 PM Agree 0
    This would be good if the government will look at the Greater Toronto market instead of something for the whol country like they did before.
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