“A ‘cooling off period’ is not the answer to alleviating the stresses consumers are currently facing in real estate transactions,” said BCREA CEO Darlene Hyde, citing analysis the group conducted of similar cooling off periods in other global jurisdictions. “While attractive at first blush, in a market characterized by low supply, such as ours, we believe that a cooling-off period will cause more problems than it solves.
It’s all part of a 57-page white paper with 30 recommendations that the industry has for addressing current hot housing market conditions, which it described as being “untenable” with its bidding wars, supply scarcity and soaring prices. On Monday, Robinson responded by saying the real estate association, as a commission driven industry, has a vested interest in the market being hot, but the government’s work is to make sure people are protected.
Alex Goseltine, executive officer of the B.C. Northern Real Estate Board, cautioned against “one-size-fits-all” answers and said the “cooling off period” answer appeared to be based on current market conditions only in specific parts of the province.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Herkunft: iPoliticsCA - 🏆 36. / 63 Weiterlesen »