 鲜花( 14)  鸡蛋( 8)
|
A real estate expert believes the new mortgage rules that went into effect Monday will hit Alberta's market the hardest.
% e9 u& B, I) p" F9 Z o9 a
6 q- B/ N p: J2 B8 e9 ?. X8 P3 KThe changes are meant to make it tougher for buyers to qualify if they put less than 20 per cent down.
' S% R6 }# o8 J& E7 M% q7 r! x/ U- c; S" |& e1 @
Prior to today, an Alberta family with a household income of $80,000 would likely have qualified for a $400,000 home but now they will be approved for a $320,000 home.! L8 u( y' \% b" m7 x
6 |6 k, S; ?1 O& E" |; a
First-time buyers, single-income earners take biggest hit with new mortgage rules" _# C* l. y3 f4 w% p4 X- v
CMHC to issue 1st 'red' warning on Canadian housing market0 B+ n" b4 M4 _5 S- z; J$ {% D1 h& N' c
Mortgage specialist Peter Kinch says under the new rules, affected buyers have about 20 percent less purchasing power which will put a downward pressure on the Canadian real estate market but he says the impact will be even greater in Alberta, where the slumping economy is already hurting house sales and prices.1 } o( j0 |- e ~5 U& \2 Z% ?8 ~: @
! _# Y, @- m/ _. Y, }' |, G5 j"In a real estate market that's struggling to recover already, it could have a very negative impact on that market," Kinch said.
* S/ d1 [8 m# P' q, R! q4 u2 s0 E4 F8 H0 t( t& d& x: X8 i
Wait and see what happens
7 K( N/ D9 \. J4 U
( R9 k6 G- X5 k8 o/ ^! [1 T8 @Natalie Whitney and her young family say that's what they're banking on so they've just decided to put their house hunting on hold.# F; a' ]1 R4 U# R
" Y9 j3 i- J3 H8 z
"It could be advantageous for us to wait and just see what happens to the market in six months," she said.- W; E1 ]2 C0 w w5 z8 D
9 r& `7 ^" A2 `; n; g1 a
The Canada Mortgage and Housing Corp. issued its first ever "red" warning on Monday, referring to real estate affordability issues spreading beyond Vancouver and Toronto.; s, O! W6 B9 v, h4 b, v+ L- r
: c+ v6 Z. h8 E4 K Z7 |! E9 z4 a% M"These factors will be reflected in our forthcoming Housing Market Assessment on Oct. 26. They will cause us to issue our first "red" warning for the Canadian housing market as a whole," CEO Evan Siddall wrote in a Globe and Mail column.; Y! Q3 R+ S/ u% s9 c3 P0 ?
( S4 V! h0 C5 \$ D7 O) mKinch says for buyers who can't wait, they'll either need to come up with a bigger down payment or lower their expectations about what they can afford. |
|
狗仔卡
发表于 2016-10-18 09:11
提升卡
置顶卡
沉默卡
喧嚣卡
变色卡
显身卡
楼主
