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Housing fever spreads to other Canadian markets - CMHC

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Ephraim Vecina | 03 Aug 2016, 08:15 AM Agree 0
CMHC report warns of even more price gains in the near future in the country’s high-demand, high-volume housing segment
  • Puzzled | 03 Aug 2016, 12:34 PM Agree 0
    I must be missing some crucial piece of the puzzle.... Shouldn't Canadians be proud and celebrate the fact that our housing industry is so HOT and there is such a huge demand and desire to live and invest here. Instead our government is imposing even more tax burdens on people who are a large part of stimulating our economy. It's one of the last few industries we have in Canada that hasn't been sold down the river (or across the border) or over regulated and over taxed to the point that turns investors running.
    • Break the Snake | 04 Aug 2016, 12:00 PM Agree 0
      Proud! these foreign buyers made living unaffordable for people yet to buy a home. Yes lucky me and you that we have one already but can you imagine being 25 years old and wanting to buy a house for $700K? You'll be house poor until your parents die.
  • harry | 03 Aug 2016, 01:14 PM Agree 0
    I couldn't agree more , problem is politicians would rather spend their time running around in a half naked parade
  • Peter | 03 Aug 2016, 01:49 PM Agree 0
    I have been saying for a while that this bubble has to burst sooner or later. Now it appears it will be with a pretty big bang!

    People simply cannot afford these high prices. Incomes are not keeping up with these new housing prices. Most of these homeowners are leveraged to their nostrils ... even with a 2.5% mortgage rate.

    What will happen when mortgage rates eventually rise back to the historic average of 6 to 7%, never even mind 12 or 15% of the early 1990's or 20% in 1981.

    Even the housing authorities are warning of overvaluation and for them to say that is unheard of.
  • Hafiz | 03 Aug 2016, 03:08 PM Agree 0
    The 15% tax on foreign buyers should be applied all over the country and it should include non-resident Canadians as well. The people who live here and contribute to the economy should be able to buy a place to live and still left with some disposable income for other needs.
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