Real Estate Status
Sunday Oct 15th, 2017Share
I sit here researching and preparing for the up and comming week. I take a look at what has transpired since last year. In fact it makes you look into what the government here in Ontario has done for the Real Estate economy. Does it make sense what they have done. They have put their fist in the sector that should not have been handles in such a way.
I can understand if they were worried about foreign investors and the impact they had in the real estate market. I also understand that they were worried they foreign buyers were not only add fuel to the fire but then when they bought these homes they left them vacant.
But when they decided to increase the mortgage rates, increase the measures to ensure it is harder for a couple to get financing for a home they have found, and decreased the buying power for buyers with other so called "stress test measures" that seems not to help ontario buyers looking to get into the market but make it even more of a challenge to do this.
As a real estate professional; I think about this - you, as a hrd working resident, need to say when enough should be enough. Also when these measures are put in place their should have been and should be consultation by real estate professionals in the ontario market.
This is the problem with what has happend and still is happening. We need to voice our concerns so that any furthur measures is done with full disclosure.