In terms of any purchase over $750,000 in the GTA, Toronto to Highway 9, east to Highway 412 and west to Hamilton, and in Vancouver and Montreal, have no stress test there below $750,000. Eliminate it. Any purchase of $500,000 and below in all other areas outside of those types of centres should not have a stress test.
These are needs; they are not wants. You need to talk to some developers to see what the real cost of building housing is, from a serviced lot up to a house.
I have done the comparisons. Right now, we're all told that this stress test is going to help people in the future. It's actually hurting more women than you can imagine.
I'll go back to the casual status. Most of the employees in the health care system seem to be women working as personal support workers, nurses and RPNs. Due to the aging population of workers within those fields today and the fact that those workers years ago did not have equipment to help in lifting and some of the other heavy work, their bodies are breaking down.
To protect them, we put some rules in place, such that you can bring new employees into those fields—long-term care and other fields—but they can't be there to replace an aging population of workers whose bodies are breaking down. What's happening is that we have so many on short-term disability that these casual workers who are hired are working 40 hours a week all year long because you have people on eight-week vacations or on short-term disability. Guess what? Those women can't buy a house. They have to be there for two years to show an average income before they can qualify for a mortgage.
My first recommendation, knowing those industries, is that for six months of continuous work at 40 hours a week you can get a mortgage and buy under the $500,000 mark with no stress test.