That’s funny Tony. As long as CMHC is underwritten by taxpayers the government should ensure prudent lending. Thank you OSFI https://www.cbc.ca/news/business/interest-rates-alberta-rbc-1.4602892 Albertan’s have high level of non-mortgage debtPosted by Still employed on Thursday, May 2nd, 2019 at 10:14pm
Tony, of course foreign investment specially in Vancouver played a big role in the formation of the bubble but the stress test was introduced to mitigate the risk of the bubble caused by cheap and easy credit like very low interest rate, amortizations of more than 20-25 years, very low or no down payment, etc....
The stress test, although it came a bit late, was a very smart and good idea to efficiently and partially correct the problem of artificially inflated house prices. It will also help in reducing the risk to financial institutions where people's money are deposited.
The solution to affordability wouldn't be to cancel the stress test but for prices to correct which might take longer than expected.
Surprised that that comment was allowed through Tony but at least it has allowed us to see the shallowness of your intelligence.Posted by Stu on Saturday, May 4th, 2019 at 11:52pm
I've deleted a number of Tony's comments because they were racist.
@Tony - please be respectful, we appreciate the discussion and healthy debate, without the hate.
You'll learn as I live not that far away from Milliken Mills and about 50 miles from Brampton and Mississauga. Since you live in Edmonton you don't understand what I'm telling you as the bonafide truth. Like I said you'll learn.Posted by Tony on Friday, May 24th, 2019 at 7:50am