In cases where the failure to close the transaction was due to the buyer being unable to secure financing because their bank/financial institution refused to fund, this proved a lot trickier for those transactions.
The Ontario Real Estate Association (OREA) is calling on the federal government to “reverse detrimental policy changes that... have made it harder for families to borrow responsibly in order to purchase a home.”
Federal policy changes designed to cool housing prices and demand continue to impact housing markets across Canada with cascading consequences and pressures, says a new report by Mortgage Professionals Canada (MPC).
REM (Real Estate Magazine) is Canada’s premier monthly magazine for real estate professionals. REALTORS®, real estate agents, sales representatives, brokers, owners, administrators, and other real estate industry stakeholders read REM every month for news, analysis, and commentary on Canadian real estate.
REM is independently owned and operated, and is not affiliated with any real estate association or board.