said last month. "There is evidence of a speculative dynamic emerging with many buyers becoming highly leveraged."In an attempt to prevent a speculative bubble from growing, the RBNZ raised the minimum required for mortgage down payments on March 1, and will raise them again on May 1, including even stricter borrowing requirements for investors.
As of May, most buyers who plan to live in their home will be required to provide a down payment of 20 per cent. Investors will need to put down 40 per cent.Redirected spending increases demand for single-family homesNew numbers for Vancouver-area real estate highlight a trend seen in cities across Canada: an increased demand especially for single-family homes. The conditions created by the pandemic have persuaded some families to redirect their spending toward housing.
News just build, subsidize decent rental property. Why should rent be higher than an mortgage payment?
News It is difficult and in some instances impossible for a non citizen to purchase property in New Zealand... I believe that Canada should adopt this type of policy to stop offshore property investors which is, in part, what has driven up housing costs.
News Canada should ALWAYS follow New Zealand’s lead.... oh that’s right, we “ can’t”, we have “ rights you know”, “ no one can make me self isolate”. 🙄🙄🦠🦠🦠🦠🦠🦠🦠🦠🦠🦠🦠🦠🦠🦠
News Canada will not follow but political parties will give similar slogan before next election.