Anshu Arora LLM, MSc, PMP

So, you're thinking that the "stress test" will make it harder for you to Buy...Think again

$500,000 mortgage for 25 years at 2.75% or 2.8% now... can you afford it...Definitely!

AND

$500,000 mortgage for 30 years at the "Stress Test"...can you afford it Now...Most Certainly!!

Contact me for more amazing facts on how you can Buy and Sell and make more Money!

Both Vancouver and Toronto’s housing markets are poised for major long-term price growth, according to a top economist with one of Canada’s big five banks.

Benjamin Tal, deputy chief economist of CIBC World Markets, drew that conclusion when looking at whether there’s a chance in the short term for prices to marginally flatten or soften. “I think that from a long-term perspective, everything we are doing is temporary. The fundamentals are way too strong offsetting all of that.”

In particular, Tal said, people will turn to private lenders and credit unions who are not affected by the new regulations and continue to pile into the Toronto and Vancouver markets — making both cities even more unaffordable.