Finance committee  I understand. This is almost the exact conversation that we've had about a hundred times, honestly, and Francesco and I have debated this ad nauseam, almost. We have no concern, or I should say, we are not averse to stress testing. We never have been. From the moment the first s

Finance committee  I'm going to leave that for my banking friend here to address.

Finance committee  I think it's supposed to create jobs within the construction industry more than it's supposed to be inflating values, because the restrictions on income multiples would actually keep that activity level down, I would say. I don't know if you want to add to that, Michael.

Finance committee  Yes, I don't think it's going to be as successful as projected.

Finance committee  I could probably get a much more technical answer from one of the insurers that belongs to our association, but at first blush, I would say that I don't think there's any real additional risk. Because the insurance already existed on the mortgage, in the event that there was a do

Finance committee  We actually run consumer surveys twice annually, and most of the folks who are purchasing homes will suggest that it's taking longer and longer to amass that down payment. I think the real estate market has actually been performing very well for the last number of years. I don't

Finance committee  I actually don't, no.

Finance committee  Mr. Siddall made a number of statements regarding the program. It's quite specifically created not to add any fuel to the fire.

Finance committee  The program is really quite restricted so that folks who are eligible for it are actually able to borrow less than they otherwise would have been.

Finance committee  It's a very surgical program. It allows the government to make statements that it's supportive of construction, even though I'm not really sure there's going to be an awful lot of take-up with the program that would create that.

Finance committee  Thank you for the question. I'd like to answer in English, if I may. You're absolutely correct. Because of the structure of the program, people who were qualified to take part in it would already qualify for an insured mortgage. The number of potential first-time buyers in the m

Finance committee  We've done our own “back of the napkin” math on this as well. A lot of times people talk about the maximum purchase price, but to do that you have to assume that a household is making exactly $120,000. That number comes in somewhere around $550,000 for a home. The average family

Finance committee  There are definitely some differences between the two programs. In B.C. it was almost an interest-free loan. The CMHC program is a shared equity program. In B.C., if you purchase a home and the government gave you $50,000, five years later when you sell the home, you owe B.C. $50

Finance committee  No.

Finance committee  Thank you. Mr. Chair, committee members, good morning. Mortgage Professionals Canada has more than 11,500 members across Canada, and I want to thank you on their behalf for giving us an opportunity to comment on Bill C-97 and the 2019 federal budget. My name is Paul Taylor. I'