Canadian Mortgage News Daily — April 26, 2021

Daily news buttletin

Here’s a daily helping of fresh Canadian mortgage news (the italics are the Spy’s 2 cents).

Reader note: RateSpy’s mortgage news is now at → RATESDOTCA.


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5 Comments

  • I’m not convinced the dependence on the housing industry poses “grave risks”. It’s better to spend money on a new house than it is to spend on a new car. In 2016 US per capita spending on automobiles was US$3567, and per capita vehicle ownership was 0.842. Canada per capita spending on automobiles was around C$2000, and per capita ownership was .685.
    https://www.cbc.ca/news/canada/calgary/alberta-new-car-truck-sales-ontario-supplants-1.3941284

  • Lumbercost says:

    With all eyes on housing and lumber costs/availability lately, and obviously not being able to control housing shortage. Would it not be reasonable to slow lumber exports to reduce shortage and cost in our country?? This would both reduce the costs of new homes and help housing shortage by eliminating the lumber shortage. Raising rates to do the same, is not a good option at this point.

    • The Spy says:

      Hi Lumbercost, Unfortunately (or fortunately depending on how you look at it), it’s not pragmatic to tell commodity producers that they can’t sell into the global market. Such restrictive trade practices would end up doing more economic harm than good.

  • Rick says:

    Even if it did pose grave risks, people who say that never offer up solutions. What is the answer? Replace housing with what?

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