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Mortgage changes to impact investors

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Canadian Realestate Magazine | 07 Oct 2016, 08:15 AM Agree 0
There are now fewer options for rental properties
  • Scott | 09 Oct 2016, 10:14 PM Agree 0
    What's up with the rule that houses must be "owner occupied"? If the borrower meets the criteria to borrow the money and has the means to pay the mortgage whether from their professional income, rental income or savings.

    I assume the banks think the owner will take better care of the house if s/he lives there? What's the rationale for this?
  • | 17 Oct 2016, 10:04 AM Agree 0
    Maybe it will eliminate the problem that Vancouver had in where entire condo buildings were left empty because no one actually lived there. Businesses opened up around expecting some form of commerce and then no one showed up due to the fact that every condo was foreign owned. I am glad that the unethical and politically greedy people that we call a government are finally doing something to curb the destruction of the middle class.
  • Scott | 17 Oct 2016, 11:23 AM Agree 0
    I agree the houses can't just sit vacant and not have a population using them and shopping at local businesses. This rule specifically says "owner occupied". I suspect most people in here buy houses/condos to rent out. This is going to make it really difficult for us. Our tenants are usually the ones that occupy the houses/condos.
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