Last Roundup, we focused on changes in mortgage laws and other regulations. Now that there’s been some time for things to sink in, media and experts are entering the conversations with their reactions and opinions. Here’s this week’s Real Estate Roundup:
After a speech on financial stability, Finance Minister Bill Morneau said the government has no new mortgage rule changes in the works. The changes announced earlier in October were the second set of measure targeting “overheated housing markets” – though critics will argue it will keep first-time home buyers our of the market for longer.
– Toronto Star
A national report titled Emerging Trends in Real Estate 2017 predicts that despite drops in sales and prices, Vancouver is till the top Canadian market to watch in 2017, fuelled largely by high demand from millennials in Vancouver’s ultra competitive rental market.
– News 1130
Vancouver Mayor Gregor Robertson addressed readers with his thoughts on the city’s “housing reset”. He believes that with measures like an empty homes tax, further investments in rental constructions, and a fresh list of actionable and innovative ideas from the Re:Address Housing Summit, affordability is on the horizon – but further support is needed from senior governments and the Nation Housing Strategy. One thing is for certain, Mayor Robertson is making sure that he and his city appear very active in the housing conversation.
– Vancouver Sun
More from the Re:Address Housing Summit: University of St. Andrews housing economist Duncan Maclennan thinks Vancouver has wrongly blamed foreign (and primarily Chinese) investment for its affordability issues. Instead, the international housing expert says the problem could stem from how Canada, as a country, redistributes tax dollars.
– Metro Vancouver
Interview: Like Vancouver, Housing affordability in Sydney is a front page issue. Sarah Hill, CEO of the Greater Sydney Commission (an organization tasked with tackling a similar affordability crisis Down Under), speaks to CKNW’s Jon McComb about what the Australian capital is doing to maintain housing affordability.
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