The impact of a new proposed new Stress Test for mortgage applicants could remove even more people from the buy side of the housing market. Michael gets Ozzie to elaborate on what he calls this " fairly draconian measure".
Ozzie notes the exploding market in Victoria and the condo market in the Fraser Valley and points out the areas & provinces still representing value. More on the implications of the foreign buyers tax and 3 hot properties (12 acre lot with nature pond 89K!)
Freakonomics argues that economics is, at root, the study of incentives. Ozzie and Michael cast a light on Real Estates driving incentives in this world of excessive cumulative regulation, Government intervention & ever increasing taxes.