Andrew Scheer Has a Shockingly Bad Housing Plan That Could Leave Canadians With Riskier Debt - 2019-10-17
Andrew Scheer's housing plan "for you to get ahead" will likely leave ordinary Canadians more indebted while developers and big businesses get ahead.
The Conservative leader's platform offers a pretty bad solution to Canada's housing affordability crisis — more debt.
The first component of that involves "easing" mortgage stress test and scrapping them on renewals. The stress test requires they be tested to be sure they can withstand an interest rate hike.
Additionally, Scheer's plan proposes to extend allowable mortgages from 25 to 30 years as a plan to help precariously employed Canadians become first-time homebuyers, without any corresponding increase in affordable or social housing — effectively proposing more debt as the solution to the problem.