New data released from the Canadian Housing Statistics Program suggests there are quite a few homeowners who have accumulated more than one property. In BC and Ontario about 15% of homeowners have more than one property. And the vast majority of them are residents. In a world turned upside down by near zero interest rates, and abundance of cheap credit chasing a finite number of homes, regulators seem to concur a mortgage stress test is the way to go. OSFI concluded, “The revisions to B-20 are working; strengthening mortgage underwriting across Canada and improving the resilience of the Canadian financial system to future shocks.”

Steve Saretsky: Your Trusted Vancouver Real Estate Agent for Expert Market Guidance
Key Political Developments Prime Minister Trudeau’s ResignationTrudeau, described as economically illiterate, is resigning. Trump’s Inauguration A knowledgeable Vancouver real estate