LMAO: The Ontario Real Estate Association Want’s the federal finance committee to Change The Mortgage Rules To Better Suit Their Agenda – July 19, 2019,
LMAO: The Ontario Real Estate Association Want’s the federal finance committee to Change The Mortgage Rules To Better Suit Their Agenda – July 19, 2019,
I’ll begin this article with Doug Ford, I don’t like Doug Fords short-sighted housing market solutions, I think Doug Ford is going to make the housing problem in Ontario worse with his shortsighted housing policy. Why do I bring up Doug Ford? Well, OREA (The Ontario Real Estate Association) like they are with all the major political parties do their best to align with the political party in power and in Ontario, OREA needs mortgage price inflation, without it, they have nothing to offer anyone. So the reader understands what OREA is and how it’s destroying Ontario let me clarify it for you in easy to understand the terminology.
The Ontario Real Estate Association is a professional association that represents real estate brokers and salespeople who are members of Ontario’s real estate boards.
Now, sure we can be kind and via the government, we can separate real estate brokers from salespeople, but they’re essentially the same thing.
A real estate broker or a real estate agent is a person who represents sellers or buyers of real estate or real property.
In Ontario, A real estate broker is a seasoned real estate agent which is basically a salesperson for real estate. Their designation exists in the province of Ontario because of the government, in fact in the digital age, they’re more of a convenience than a necessity, the government prevents their extinction. They’re a protected group of salespeople, reliant on the creditworthiness of the working Ontarians who they hope to push into the mortgage inflated housing market.
Why do I bring this up? Do we forget why the Canada Mortgage and Housing Corporation(CMHC) a Crown Corporation of the Government of Canada was created?HOUSING AFFORDABILITY! HOUSING AFFORDABILITY! HOUSING AFFORDABILITY! CMHC was created to make housing more affordable for Canadians, well currently Toronto’s housing price to income ratio is 79% of median household income. The cost of owning a home in Toronto in 2019 will take up 79 per cent of the median household income of $71,631 by the fourth quarter of this year, up from nearly 76 per cent in 2018.
It’s time to phase out CMHC, it’s that simple, take the training wheels off, being that OREA believes that the government is preventing housing sales, let’s take CMHC out of the equation? The housing market is booming, right? Well, why do we need CMHC? Canadians can clearly afford to buy houses without the governments help, that’s the argument OREA is making.
It’s time to sell CMHC or phase it out, the CMC experiment has or hasn’t worked out as planned. Renters are having to pay for this CMHC federally created disaster. Let’s take the government out of housing, being that the argument is Capitalism is the problem with housing, well the problem with Capitalism as everyone knows is deflation of prices.
In the cannabis industry, the black market which represents the freer market is destroying the government regulated weed market because the black market weed is a whole lot cheaper. Capitalism is competitive, capitalism allows deflation, the argument OREA is making is that the home/developers sellers they represent don’t want to lower their prices, their sellers want higher prices and the representatives of OREA have the ability to extract more money out of buyers if only the part of the government they like allows OREA to write the mortgage lending rules.
The Ontario Real Estate Association is a lobbyist group, salesmen having a huge impact on the cost of living in Canada? This is absolutely disgusting! Salesmen ruining my country, completely unacceptable
