Scott Peckford » Basement suite http://scottpeckford.ca Just another WordPress weblog Fri, 10 Dec 2010 04:45:47 +0000 en hourly 1 http://wordpress.org/?v=3.0.4 Rental Income Gets Hammered Under New Rules http://scottpeckford.ca/2010/06/07/rental-rules-get-hammered-under-new-rules/ http://scottpeckford.ca/2010/06/07/rental-rules-get-hammered-under-new-rules/#comments Mon, 07 Jun 2010 19:54:53 +0000 admin http://scottpeckford.ca/?p=646

Jim Flaherty changed the mortgage rules on April 19. The changes were designed to prevent Canadians from piling on too much debt.

Most of the changes will have a minor impact on the overall housing market.

In Kelowna the change is going to impact first time buyers who have been relying heavily on rental income to qualify for our expensive homes.

I believe these changes will force more first time buyers into affordable condos and townhouses because rental income will not work as well.

What do you think?

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