I’m surprised we’ve seen basically nothing from provincial or federal governments to improve housing/rental affordability. With riding interest rates, I was expecting at least a slump, but that hasn’t happened. Instead, we’ve seen amortizations grow rapidly.
The Office of the Superintendent of Financial Institutions has recommended
Removing the ability to extend amortization periods could exert downward pressure on some house prices, as it reduces the options available to help some borrowers meet their financial obligation
But (AFAIU) Parliament has ignored the recommendation. It’s a really shitty situation, that I don’t see a way out of.
The reality is that there is no lobby group or investment class as represented in our government as landlords and real estate investors. Not oil, not lumber, not insurance, not mining, no other group even comes close. Something like 75% of MPs and MPPs own at least one investment property across the board regardless of party. They’re always going to vote in self-interest, regardless of what they tell you they stand for. That’s the problem.