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Big bank calls for real estate policy action

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Justin da Rosa | 07 Apr 2017, 08:52 AM Agree 0
CEO calls on entire industry, as well as government officials, to come together to determine solutions
  • | 07 Apr 2017, 10:40 AM Agree 0
    The banks can help solve the problem by reducing the amortization period to just 25 years and increase the down payment for the GTA alone to 25%. If that does not solve the problem, then increase the down payment to 30%. This does not involve the government whose action could be a negative. The banks should stop looking for market share which they didn't do in 1989 and that caused the losses to them. Perhaps the trust companies should also do this.
    Hal Jackman, who ran National Trust, asked OSFI to do this in 1989 and it said it couldn't do this as it could only act nationally, so the banks and trust companies know this and back then they all fell off the closing cliff together.
  • Jayvid | 08 Apr 2017, 03:03 AM Agree 0
    Raise rates! Problem solved.....
  • | 08 Apr 2017, 03:04 AM Agree 0
    Raise rates!
  • | 13 Apr 2017, 07:04 PM Agree 0
    Raising rates can also have a negative impact if it is not done properly....
  • Jeremy | 05 May 2017, 05:08 PM Agree 0

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