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Mortgage Broker News | 27 May 2016, 08:15 AM Agree 0
Any government intervention aimed at stemming foreign buyers may not deter such investment -- but it could impact Canadians, according to one leading economist
  • Christina | 27 May 2016, 09:06 AM Agree 0
    What does that leave the next generation of Canadians? Will home ownership become something only the rich can afford?
  • Wolfram | 27 May 2016, 09:18 AM Agree 0
    The government must step in. If it doesn't you can rest assured that it is in the pocket of Developers and other selfish interests getting richer and richer off the current bubble.
  • Spencer Ennis | 27 May 2016, 03:47 PM Agree 0
    Regardless of whether foreign investment into our residential housing sector is from dubious sources or not, it is creating a catastrophe of displaced citizens and must be curbed. There is no question about that and the solution is to creatively adapt to these current conditions and not continue on the same path as we are now.

    The government has proven time and again that it can slow Canadian ownership of property in their own country through regulation changes to lending criteria. Thus, they can loosen those same restrictions to help offset the initial shock to the market that the absence of foreign money will create. Once implemented, the Mortgage Professionals will have the tools they need to get Canadian families into home ownership in what would be a more easily attainable and affordable lending environment while maintaining equity wealth.

    Let's get the data we need about the sources and levels of foreign investment, create policies to target that foreign investment, make the market easier for Canadians to buy and maintain their homes at current prices levels and then let market forces find their natural boundaries without any artificial inflationary pressures from outside sources.
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