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Mortgage Broker News | 11 Jun 2014, 10:34 AM Agree 0
Brokers often lamented former Finance Minister Jim Flaherty’s willingness to tinker with mortgage rules and regulations but one industry professional believes current minister, Joe Oliver’s laissez-faire approach could have disastrous effects.
  • Layth Matthews | 12 Jun 2014, 12:50 PM Agree 0
    While I appreciate Adatia's concern, I think it is naive to think that government can stick handle the marketplace into some kind of ever-smooth growth and employment. The restrictions on refinance LTV and maximum amortization already in place are making a huge positive impact. Also the requirement to use 3% as a minimum payment on revolving credit in the ratios is brilliant. Now if they would just restrict consumer credit! As it is now, these low payment credit lines are just a modern form of slavery. But I digress.

    What we need government to do now is provide models and education for sustainable lifestyles, not try to predict house prices and enforce interest rates.

    Materialism, it turns out, is actually a huge obstacle to many things, including material wealth.
  • Ron Butler | 12 Jun 2014, 01:06 PM Agree 0
    Layth maks some good points.

    I do suggest we all consider this: when Canada leads the whole industrialized world for having the least affordable housing perhaps we should think about some further policy changes.

    I am not talking about raising interest rates, that hurts people who are just renewing mortgages on a house they bought 15 years ago which is silly.

    I am thinking there must be some way to slow down property price increases that are 3 or 4 times annual inflation. I can't think of any great methods myself but maybe smarter people than me can come up with a few.
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