Human Resources committee  Thank you very much for the question. While I will say that we have a number of our individual members who work in assessment authorities, including places like BC Assessment, across the country, we would not presume to speak for the assessment authorities. I will say, though

Human Resources committee  Thank you very much, Mr. Chair, for the opportunity to be here. We are privileged and honoured to be before the committee today. We appreciate the opportunity to provide our comments on the design and rollout of the proposed housing accelerator fund, as well as to provide some su

Finance committee  Clearly, there are varying inputs that will contribute to value. There was an article this morning in New Brunswick that talked about green renovations to homes, and it suggested that appraisers were diminishing those. In fact, the response is that the “greenness” of a home, if y

Finance committee  Yes.

Finance committee  I would suggest to you that many in organized real estate would agree that supply side constraints in both the GTA and the GVA are probably the number one contributor to the escalation of value.

Finance committee  It's just the mere fact that there is not an increasing amount of housing units available at a time when more and more people are moving into those cities or those areas.

Finance committee  Certainly the cycle time to bring new properties or new developments to market varies widely across municipalities across the country, but it is not an insignificant period of time. I recall a couple of years ago when Bombardier left the former Buttonville site and relocated to

Finance committee  It's municipal approvals, environmental assessments as required, construction of the infrastructure, and so on.

Finance committee  I think it's important to remember this. Toronto gets approximately 100,000 new citizens every year. These are people who want to come, and they're at the household formation stage. They want to get into the housing market. In fact, you're not seeing 100,000 new houses brought on

Finance committee  That's correct.

Finance committee  Our members consider any number of factors in arriving at an opinion of value.

Finance committee  I certainly don't feel qualified to speak for the financial industry, but I can say that climate change challenges have resulted in the impairment or reduction of the value of property that is secured by lending institutions. It has resulted in individual property owners seeing r

Finance committee  Our perspective has been that we're not adding any additional stress to the system. Borrowers are not taking on any additional debt, so the public policy objective is not being encumbered by eliminating the stress test on renewals. As far as the remainder of the stress test acro

Finance committee  Our organization does not have any statistics on that. We do know that approximately 70% to 75% of the residential lending is still being offered through federally regulated financial institutions. Philosophically, we support the notion of providing consumers with the greatest d

Finance committee  Mr. Chairman, honourable members, ladies and gentlemen, we are very honoured to be here again. We appreciate the opportunity to present our members' perspectives and recommendations to the Standing Committee on Finance as you prepare for your pre-budget consultation process. The