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Housing | Dan On Condos Blog

Ottawa needs to make housing its top priority

Globe and Mail

By Dan S. Barnabic, November 7, 2016 

After some very disturbing news from British Columbia this summer, where a Globe and Mail investigation discovered that our major banks were favouring foreign buyers by turning a blind eye to a prudent approval process when granting them uninsured mortgages, one has to wonder about the future of housing in this country. Have these deplorable bank practices, since rescinded, fearing the public outcry, been condoned and encouraged by our government, which previously voiced concern about foreign ownership? How else could Ottawa’s (only) recently introduced measures in closing loopholes related to capital gains taxes and mortgage qualifying criteria, be explained? Why so late and only after such reporting?

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