Shaun Cathcart, senior economist at The Canadian Real Estate Association, talks with Financial Post's Larysa Harapyn about how new mortgage rules will help Toronto, Vancouver homebuyers.
Where and how the first time buyers or young peoples come up with the down payment, prices of houses still pretty high. New mortgage rule no really work.
You are now qualified to go deeper in debt in the long run...ridiculous. We need affordable housing and not misleading tools to qualify buying something you can't afford. Why cant they provide 15 or 30 year mortgages like the US to provide some stability? Every 3 to 5 years we have to go through the same BS.
Agents I have talked to have told me that 90% of the offers they have received (for a few years now) have been from Speculator/Investors. Media continues to paint a picture like Mommy and Daddy are buying houses. They are not. Adjust your narritive.
right....... but the monthly payments will now escalate, the mortgage insurance,home insurance, property taxes, utilities, upkeep, cleaning!! and your telling young people it is a good thing!!! oh i see your with The Canadian Real Estate Association..Economics this is not. they will be paying interest forever.
Lmao more debt please. Starter homes for 1.5 million makes everything affordable? Who’s making this much money. These policies are baloney. This guys biased and obviously is confusing markets. 1.5 million dollar homes are in the luxury segment not meant for starter homes and the young family. If you’re smarter than most congrats. Who is the first time home buyer at this point?
