It’s the end of another beautiful work week and that means it’s time for another Friday Free-for-all! This is our standard issue end-of-the-week news round up and open topic discussion thread for the weekend.
Here are a few recent links to kick off the chat:
–First time buyer loan problems
–China capital outflows reverse
–Early signs of financial crisis
–Interest rate hikes
–Elections BC probe fundraising
–Squeeze profits from customers
So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!
Recent tweaks to housing rules are cutting into mortgage brokers business. They are asking lawmakers to relax existing rules and put the brakes on new rules:
While Ottawa considers what to include in the budget, the mortgage group is urging the government to avoid taking any drastic and unnecessary action because of isolated pockets of danger.
The new rules “disproportionately affect competitive positions of small and mid-sized lenders,” Kerzner said. “There’s a real and growing sentiment that activity in Toronto and Vancouver is negatively impacting those in the rest of the country.”
Read the full article over at the CBC.
There is a move afoot to discourage owners from tearing down pre 1940s character homes in Vancouver, but this brings concerns that such a move would limit development and supply.
The mayor agrees and is making statements hinting at increasing housing mix in low density neighborhoods:
“People are feeling squeezed out,” said Robertson.
He argues since 2011, more than 1000 people have left neighbourhoods like Dunbar, Arbutus Ridge and Kerrisdale — neighbourhoods that feature character-style homes.
“It’s clear our lowest density neighbourhoods are changing and we need to make sure they’re changing for the people who need them,” he said.
Robertson says, “now is the right time to advance the conversation for more affordability and a mix of housing types that fit within our single family home neighbourhoods.”
His statement says that mix could include townhomes, row houses, and duplexes.
Meanwhile, roughly 1,000 homes are torn down every year in Vancouver and the majority of those were built before 1940.
Read the full article here.
It’s the end of another work week and that means it’s time for another Friday Free-for-all!
This is our regular end of the week news round up and open topic discussion thread for the weekend. Here are a few recent links to kick off the chat:
So what are you seeing out there? Post your news links, thoughts and anecdotes in the comments below and have an excellent weekend!
southseacompany pointed out this article in the financial post:
Canada’s banks are pushing back against taking on more mortgage risk
“Canada’s financial industry is urging the federal government to consider alternatives to proposals that could require them to take on a greater share of mortgage defaults through a deductible — calling it one of the biggest shakeups to hit housing finance in 50 years.”
Read the full article here.