Consumer finacing options cannot be just be forthright and unilaterally disallowed. Government has no place meddling in a market economy in a QST world country
L
Larry Vachon
9 years ago
I do not like our government,they make to much money for the little they do for us!!!
A
Anonymous
9 years ago
In an attempt to slow the hot markets and prevent foreign buyers from flipping houses you have now punished the entire country and will create reduced revenue and higher unemployment levels in every industry related to real estate.
J
Jennifer Coy
9 years ago
Reducing competition this drastically does not help the average Canadian. It only makes the 6 big banks more profitable. The new changes to qualifying on high-ratio mortgages will help to ensure investors get rich, while young people can not find a way to build equity and net worth. In tight and expensive markets, this will also create more homelessness as home-ownership becomes significantly less attainable, and rental markets saturated.
A
Ashley Kohl
9 years ago
This is just awful.
K
Kyle Erickson
9 years ago
Implementing policy changes that will deter/prevent healthy competition and choice for consumers/borrowers along with targeting/punishing a homebuyer segment (ie. 1st time homebuyers) seems to me to be the wrong approach. I, too, feel the housing market in certain regions has to be addressed and 'cooled', but there are better tools or options in the arsenal that can be utilized ... maybe taking a closer look at the impact foreign buyers/investors have is a more prudent and sensible approach. I know as a proud Canadian I would rather see a tax-paying resident of Canada versus a foreign investor purchase a home.
Bottomline, the DoF dropped the ball on this one, in my opinion.
J
Julia
9 years ago
This is all getting ridiculous and greedy
S
Stacey Ferguson
9 years ago
Stop hurting the Canadians that need the help the most under the guise of "slowing down" Toronto and Vancouver. If that was *actually* the point of these changes, then the benchmark would have been set at $750k+ purchases. This is punitive and damaging to Canadians, the Canadian economy and the Canadian standard of living.
K
Kari-Lynne Robillard
9 years ago
competition is healthy for the economy and Canadians!
J
Julie Bianchi
9 years ago
Please review the new policy and lessen the blow to Canadians!
L
Louise
9 years ago
Fait
P
Perri Scarcelli
9 years ago
Bring back the PC
K
Kevin lachapelle
9 years ago
Being self employed this new change will make it much harder for me and my family to buy a new home...
M
Marguerite Laflamme
9 years ago
This will kill the market and not real
A
Anonymous
9 years ago
The mesure should be apply in the provinces who the intervention is necessary. It will kill the market on the rest of the Canada only because of Toronto and Vancouver.thank you
S
Sunny vig
9 years ago
Such a devastating below to millions if Canadians.
D
Darlene Juba
9 years ago
Reducing the competition in the mortgage market means the consumer will pay more.
D
David Spragge
9 years ago
Full disclosure: I used the services of a mortgage broker to obtain my mortgages. The first two lenders were independent companies, whereas my current mortgage is held by one of the "big banks". I have no axe to grind against banks; I just want to see fair competition in the market.
C
Clint Jones
9 years ago
Signed
A
Ann Todd
9 years ago
Consumers will pay far more for financing in the future as competition is reduced.
Consumer finacing options cannot be just be forthright and unilaterally disallowed. Government has no place meddling in a market economy in a QST world country
I do not like our government,they make to much money for the little they do for us!!!
In an attempt to slow the hot markets and prevent foreign buyers from flipping houses you have now punished the entire country and will create reduced revenue and higher unemployment levels in every industry related to real estate.
Reducing competition this drastically does not help the average Canadian. It only makes the 6 big banks more profitable. The new changes to qualifying on high-ratio mortgages will help to ensure investors get rich, while young people can not find a way to build equity and net worth. In tight and expensive markets, this will also create more homelessness as home-ownership becomes significantly less attainable, and rental markets saturated.
This is just awful.
Implementing policy changes that will deter/prevent healthy competition and choice for consumers/borrowers along with targeting/punishing a homebuyer segment (ie. 1st time homebuyers) seems to me to be the wrong approach. I, too, feel the housing market in certain regions has to be addressed and 'cooled', but there are better tools or options in the arsenal that can be utilized ... maybe taking a closer look at the impact foreign buyers/investors have is a more prudent and sensible approach. I know as a proud Canadian I would rather see a tax-paying resident of Canada versus a foreign investor purchase a home. Bottomline, the DoF dropped the ball on this one, in my opinion.
This is all getting ridiculous and greedy
Stop hurting the Canadians that need the help the most under the guise of "slowing down" Toronto and Vancouver. If that was *actually* the point of these changes, then the benchmark would have been set at $750k+ purchases. This is punitive and damaging to Canadians, the Canadian economy and the Canadian standard of living.
competition is healthy for the economy and Canadians!
Please review the new policy and lessen the blow to Canadians!
Fait
Bring back the PC
Being self employed this new change will make it much harder for me and my family to buy a new home...
This will kill the market and not real
The mesure should be apply in the provinces who the intervention is necessary. It will kill the market on the rest of the Canada only because of Toronto and Vancouver.thank you
Such a devastating below to millions if Canadians.
Reducing the competition in the mortgage market means the consumer will pay more.
Full disclosure: I used the services of a mortgage broker to obtain my mortgages. The first two lenders were independent companies, whereas my current mortgage is held by one of the "big banks". I have no axe to grind against banks; I just want to see fair competition in the market.
Signed
Consumers will pay far more for financing in the future as competition is reduced.