Another major housing market is reeling

Many of the predictions about first-time buyers becoming excluded from the housing market because of the mortgage stress test are coming true.
As Sherwood Mortgage Group’s president told CREW late last year, Guideline B-20, as the stress test is formally known, would catalyze a decline in market activity—which has, indeed, occurred in most of Canada—and millennial-aged homebuyers would bear the brunt.[Read Me…]