Sunday 28 February 2016

Two-thirds of Canadians in poll think government should intervene in housing market!!

Two-thirds of Canadians included in a recent poll said the government should get more involved in the housing market to ensure the system is fair.

Most Canadians in poll said house prices are too high where they are, even outside Toronto and Vancouver

That's one of the main conclusions of a report released Friday by the Angus Reid Institute, based on the opinions of a representative randomized sample of 5,867 Canadians who were polled online in the first two weeks of FebruaryThat takes aim at two markets in particular — the Greater Toronto and Vancouver areas — where starter homes are for the most part priced above that threshold. The CMHC rules could have the effect at cooling the lower end of those hot markets without harming other markets where speculation isn't seen to be as much of a concernBut that isn't the only area where government intervention has been debated in recent weeks.
Earlier this month, a practice known as "shadow flipping" has come under fire. Essentially, by taking advantage of a clause in standard real estate contracts known as an "assignment clause," some realtors been generating huge commissions by flipping properties between a number of buyers until the ultimate sale is booked.

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