{"id":7321,"date":"2017-11-09T10:10:25","date_gmt":"2017-11-09T18:10:25","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=7321"},"modified":"2017-11-03T15:27:31","modified_gmt":"2017-11-03T22:27:31","slug":"regulatory-measures-are-the-biggest-risk-to-the-canadian-housing-market","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2017\/11\/regulatory-measures-are-the-biggest-risk-to-the-canadian-housing-market\/","title":{"rendered":"Regulatory Measures Are The Biggest Risk to The Canadian Housing Market"},"content":{"rendered":"<p style=\"text-align: justify;\">With many industry players predicting a housing market slowdown for Canada heading into 2018, one economist is blaming the potential cooling on recently introduced regulatory measures.<\/p>\n<p style=\"text-align: justify;\">\u201cIn Canada, the much-discussed risk of a housing slowdown is derived not simply from the traditional mix of higher rates and\/or higher unemployment \u2014 regulatory changes are arguably the most powerful consideration of all,\u201d writes RBC Global Asset Management chief economist Eric Lascelles in his latest weekly #MacroMemo.<\/p>\n<p style=\"text-align: justify;\">Lascelles is referring new mortgage rules announced by the Office of the Superintendent of Financial Institutions (OSFI) last week.<\/p>\n<p style=\"text-align: justify;\">From January 1st onwards, a new mortgage stress test will require all uninsured mortgage borrowers to qualify against the Bank of Canada\u2019s five-year benchmark rate, or at their contract mortgage rate plus an additional 2%.<\/p>\n<p style=\"text-align: justify;\">The new rules are intended to ensure that uninsured borrowers can withstand higher interest rates. The overnight rate \u2013 which influences mortgages and was at a historically low 0.5% earlier this year \u2014 has been raised 50 basis points since July, with some predicting a third hike in December.<\/p>\n<p style=\"text-align: justify;\">According to Lascelles, while the move could potentially boost housing demand in the short term as buyers rush to purchase before the rules come into effect, it will ultimately cool the market in 2018.<\/p>\n<p style=\"text-align: justify;\">\u201cIt promises to notably cool the Canadian housing market, as around 10% of mortgage applicants will be limited in their purchase options by the new rule, reducing the home they can afford to buy by an average of 15 to 20%,\u201d he writes.<\/p>\n<p style=\"text-align: justify;\">Lascelles predicts that the new rules will play out in a mix of both lower prices and diminished activity.<\/p>\n<p style=\"text-align: justify;\">He isn\u2019t the only economist wary of how the measures could affect the market in the coming months. Speaking with BuzzBuzzNews last week, CIBC Senior Economist Benjamin Tal said the changes would be bad news for an already slowing market.<\/p>\n<p style=\"text-align: justify;\">\u201cThis change will certainly slow down demand, and with it the market,\u201d he said. \u201cThe question is not if it will affect the market, but how much.\u201d<\/p>\n<p><a href=\"http:\/\/news.buzzbuzzhome.com\/2017\/10\/regulatory-measures-biggest-risk-canadian-housing-market-expert.html\" target=\"_blank\" rel=\"noopener\">Regulatory Measures Are The Biggest Risk to The Canadian Housing Market<\/a> by Sarah Niedoba | Buzz Buzz Home<\/p>\n","protected":false},"excerpt":{"rendered":"<p>With many industry players predicting a housing market slowdown for Canada heading into 2018, one economist is blaming the potential cooling on recently introduced regulatory measures. \u201cIn Canada, the much-discussed &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2017\/11\/regulatory-measures-are-the-biggest-risk-to-the-canadian-housing-market\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-7321","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Regulatory Measures Are The Biggest Risk to The Canadian Housing Market &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2017\/11\/regulatory-measures-are-the-biggest-risk-to-the-canadian-housing-market\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Regulatory Measures Are The Biggest Risk to The Canadian Housing Market &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"With many industry players predicting a housing market slowdown for Canada heading into 2018, one economist is blaming the potential cooling on recently introduced regulatory measures. \u201cIn Canada, the much-discussed &hellip; [read more]\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2017\\\/11\\\/regulatory-measures-are-the-biggest-risk-to-the-canadian-housing-market\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2017\\\/11\\\/regulatory-measures-are-the-biggest-risk-to-the-canadian-housing-market\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"Regulatory Measures Are The Biggest Risk to The Canadian Housing Market\",\"datePublished\":\"2017-11-09T18:10:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2017\\\/11\\\/regulatory-measures-are-the-biggest-risk-to-the-canadian-housing-market\\\/\"},\"wordCount\":360,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"articleSection\":[\"Real Estate\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2017\\\/11\\\/regulatory-measures-are-the-biggest-risk-to-the-canadian-housing-market\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2017\\\/11\\\/regulatory-measures-are-the-biggest-risk-to-the-canadian-housing-market\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2017\\\/11\\\/regulatory-measures-are-the-biggest-risk-to-the-canadian-housing-market\\\/\",\"name\":\"Regulatory Measures Are The Biggest Risk to The Canadian Housing Market &#8226; Rory C Real Estate | Oakwyn Realty\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\"},\"datePublished\":\"2017-11-09T18:10:25+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2017\\\/11\\\/regulatory-measures-are-the-biggest-risk-to-the-canadian-housing-market\\\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2017\\\/11\\\/regulatory-measures-are-the-biggest-risk-to-the-canadian-housing-market\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2017\\\/11\\\/regulatory-measures-are-the-biggest-risk-to-the-canadian-housing-market\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Regulatory Measures Are The Biggest Risk to The Canadian Housing Market\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\",\"name\":\"Rory C Real Estate | Oakwyn Realty\",\"description\":\"Rory C Real Estate Updates | Home Selling &amp; Buying\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-CA\"},{\"@type\":[\"Person\",\"Organization\"],\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\",\"name\":\"Rory Clipsham\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"contentUrl\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"width\":504,\"height\":504,\"caption\":\"Rory Clipsham\"},\"logo\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\"},\"sameAs\":[\"http:\\\/\\\/www.roryc.ca\\\/\",\"https:\\\/\\\/www.facebook.com\\\/pg\\\/BurnabyandCoquitlamHomes\\\/about\\\/?ref=page_internal\",\"https:\\\/\\\/www.instagram.com\\\/roryclipshamhomes\\\/\",\"https:\\\/\\\/x.com\\\/RoryClipsham\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Regulatory Measures Are The Biggest Risk to The Canadian Housing Market &#8226; Rory C Real Estate | Oakwyn Realty","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.roryc.ca\/blog\/2017\/11\/regulatory-measures-are-the-biggest-risk-to-the-canadian-housing-market\/","twitter_card":"summary_large_image","twitter_title":"Regulatory Measures Are The Biggest Risk to The Canadian Housing Market &#8226; Rory C Real Estate | Oakwyn Realty","twitter_description":"With many industry players predicting a housing market slowdown for Canada heading into 2018, one economist is blaming the potential cooling on recently introduced regulatory measures. \u201cIn Canada, the much-discussed &hellip; [read more]","twitter_creator":"@RoryClipsham","twitter_site":"@RoryClipsham","twitter_misc":{"Written by":"Rory Clipsham","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.roryc.ca\/blog\/2017\/11\/regulatory-measures-are-the-biggest-risk-to-the-canadian-housing-market\/#article","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/2017\/11\/regulatory-measures-are-the-biggest-risk-to-the-canadian-housing-market\/"},"author":{"name":"Rory Clipsham","@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"headline":"Regulatory Measures Are The Biggest Risk to The Canadian Housing Market","datePublished":"2017-11-09T18:10:25+00:00","mainEntityOfPage":{"@id":"https:\/\/www.roryc.ca\/blog\/2017\/11\/regulatory-measures-are-the-biggest-risk-to-the-canadian-housing-market\/"},"wordCount":360,"commentCount":0,"publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"articleSection":["Real Estate"],"inLanguage":"en-CA","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.roryc.ca\/blog\/2017\/11\/regulatory-measures-are-the-biggest-risk-to-the-canadian-housing-market\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.roryc.ca\/blog\/2017\/11\/regulatory-measures-are-the-biggest-risk-to-the-canadian-housing-market\/","url":"https:\/\/www.roryc.ca\/blog\/2017\/11\/regulatory-measures-are-the-biggest-risk-to-the-canadian-housing-market\/","name":"Regulatory Measures Are The Biggest Risk to The Canadian Housing Market &#8226; Rory C Real Estate | Oakwyn Realty","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/#website"},"datePublished":"2017-11-09T18:10:25+00:00","breadcrumb":{"@id":"https:\/\/www.roryc.ca\/blog\/2017\/11\/regulatory-measures-are-the-biggest-risk-to-the-canadian-housing-market\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.roryc.ca\/blog\/2017\/11\/regulatory-measures-are-the-biggest-risk-to-the-canadian-housing-market\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.roryc.ca\/blog\/2017\/11\/regulatory-measures-are-the-biggest-risk-to-the-canadian-housing-market\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.roryc.ca\/blog\/"},{"@type":"ListItem","position":2,"name":"Regulatory Measures Are The Biggest Risk to The Canadian Housing Market"}]},{"@type":"WebSite","@id":"https:\/\/www.roryc.ca\/blog\/#website","url":"https:\/\/www.roryc.ca\/blog\/","name":"Rory C Real Estate | Oakwyn Realty","description":"Rory C Real Estate Updates | Home Selling &amp; Buying","publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.roryc.ca\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-CA"},{"@type":["Person","Organization"],"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7","name":"Rory Clipsham","image":{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","url":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","contentUrl":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","width":504,"height":504,"caption":"Rory Clipsham"},"logo":{"@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg"},"sameAs":["http:\/\/www.roryc.ca\/","https:\/\/www.facebook.com\/pg\/BurnabyandCoquitlamHomes\/about\/?ref=page_internal","https:\/\/www.instagram.com\/roryclipshamhomes\/","https:\/\/x.com\/RoryClipsham"]}]}},"_links":{"self":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/7321","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/comments?post=7321"}],"version-history":[{"count":1,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/7321\/revisions"}],"predecessor-version":[{"id":7322,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/7321\/revisions\/7322"}],"wp:attachment":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/media?parent=7321"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/categories?post=7321"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/tags?post=7321"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}