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Mortgage Broker News | 09 Aug 2016, 08:00 AM Agree 0
As Canada’s two hottest housing markets continue to smolder, CMP checked in with two of the industry’s leading economists about whether it’s sustainable – and what, if anything, the government should do to intervene
  • Kris Kooblall | 09 Aug 2016, 07:15 PM Agree 0
    Canada's Housing Crisis rages out of control here in Toronto:
    Canada's Housing Crisis rages out of control here in Toronto as all levels of government look on,
    and Canadian families are increasingly less able to afford to purchase homes for their families,
    as foreigners are provided with unqualified access to prime residential real estate.
    Many remark that it is so very complicated.
    What is extremely simple to understand is that government's primary responsibility and priority is to Canadian families.
    /“Housing affordability is plunging in both regions, and there has been a rising number of voices calling for government action of some sort,” she says. “Some have suggested an increase in the minimum down payment, tightening credit conditions or a rise in the cost of CMHC mortgage insurance
    – all of which would hurt first-time homebuyers the most, exacerbating affordability. As well, the idea of action to slow foreign buying – such as, for example, a luxury tax – has also been floated.”/
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