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A real estate expert believes the new mortgage rules that went into effect Monday will hit Alberta's market the hardest.% ^9 ~1 I5 p- l. [
$ @0 i) T- T( B: y. kThe changes are meant to make it tougher for buyers to qualify if they put less than 20 per cent down.
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/ V/ Y- l3 M" M% n7 YPrior 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 $320,000 home.
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+ u. z: S# |' H. T! [$ g+ mFirst-time buyers, single-income earners take biggest hit with new mortgage rules
$ C( \. `. n ?8 g& M- u4 S' hCMHC to issue 1st 'red' warning on Canadian housing market
8 P/ l; @/ N) H% ]1 Y) Q% bMortgage 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.
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1 M3 N# |5 k* h+ E9 g"In a real estate market that's struggling to recover already, it could have a very negative impact on that market," Kinch said., ~3 n J! L% u5 q7 f
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Wait and see what happens* s! A1 q$ H* h0 O9 L6 v1 ]
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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.
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"It could be advantageous for us to wait and just see what happens to the market in six months," she said.5 L J- K# w7 N% J+ O
9 L; \" }; B, U7 P$ s. c4 P2 c; xThe Canada Mortgage and Housing Corp. issued its first ever "red" warning on Monday, referring to real estate affordability issues spreading beyond Vancouver and Toronto. R b" k- ?! ^4 ]4 i' c$ |- ?
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"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.
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5 w& ?6 [ q1 S2 A6 q7 ]9 KKinch 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. |
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发表于 2016-10-18 09:11
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