Although more stringent qualification parameters have been continuously set by the Federal Government over the past 10 years, Canadians have shown they still value home ownership.  Across Canada most markets have seen demand for housing increase year over year.  It is a consensus amongst most reputable economists in Canada, based on strong employment, interprovincial migration, and immigration, demand home ownership will be strong.

Although speaking with clients and advising their qualifying amount is less, or the ability to access their equity in their home will be more difficult, there is a positive to note. More prudent qualification ensures diligent lending, and with CMHC’s statistics of very low default (in the range of half a percent year over year), the Canadian housing system is sound.  This means Canada is protected from facing a housing crash like the US faced and Canadians investment in home ownership is therefore protected