Is the mortgage stress test making Toronto’s housing crisis worse?

Toronto’s rental market is only getting worse. Not only is there a lack of supply, but demand continues to grow as the mortgage stress test and other factors push homeownership out of reach.. But that’s not all. A new study has found that Airbnb is another big reason the city’s rental market is getting so tough.

Elsewhere: Dirty money runs rampant in Canada, a landmark deal for tenants in New York and the U.K. housing market gets a temporary reprieve. Toronto. Is the mortgage stress test making Toronto’s housing crisis worse? (Toronto Star)

Is the mortgage stress test making Toronto’s housing crisis worse or is it the Low-Interest Rates? – June 10, 2019, The Canadian housing market hasn’t crashed and if you’re a believer in government intervention, you could make the argument that the reason for the housing boom and its inability to crash revolves around the government making the right decisions to control it.

 · The stress test was introduced to cool the housing market – the intention, was actually to help out first time buyers – but it did the opposite. ( 2 ) Not only did it make it much harder to get qualified for a mortgage as a first time buyer with no existing home equity, but it also increased the demand in the Condo market, which is where most first-time buyers are looking.

I think that they are tackling the wrong end of the problem. So many less voters care about housing affordability for those in Toronto and Vancouver (because the stress test won’t affect most people in other areas buying a $250,000 home) than their access to credit cars and ridiculous car loans.

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GTA first-time homebuyers can benefit from mortgage program despite $560,000 home-value cap, federal minister says "Even here in Mississauga and Toronto, first-time homebuyers will have many.

In Toronto: New housing development applications dip under Ford government and how to maintain neighbourhood populations as families grow smaller? Elsewhere: Canada’s mortgage stress test just got a bit easier, landlords strike back in New York, the end of a brazilian social housing era and which cities are the worse for allergies?

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