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Mortgage Broker News | 17 Feb 2017, 08:15 AM Agree 0
CIBC issues strong warning on Toronto and the surrounding areas now being in a housing bubble
  • steve | 17 Feb 2017, 02:08 PM Agree 0
    CREA and bank data needs to figure out how to screen out "billionaire" purchases.
    Millionaires/ billionaires don't care so much about price. They care about getting what they want.
    If our stats capture behavior of the blue collar community and billionaire community in 1 snapshot, then your conclusions will be brutally distorted. Life is different in small town Canada than in Toronto, but decisions are being made based on stats from the Bigger Markets. By nature of the value and volume, they skew the numbers.
    Government is trying to stop billionaires from making billionaire decisions by putting braking measures on the blue collars in small to mid-community Canada. Dependence on BAD stats will result in a drop in housing supply and higher than God rents in small town Canada.
    I would like to see stats differentiating conventional purchases from high ratio mortgages. This should be sufficient to screen out the high value millionaire purchases.
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