The Shared Equity Mortgage Providers Fund launched at the end of July 2019. It’s a $100 million, five-year program managed by the Canada Mortgage and Housing Corporation that will support existing SEMPs.
Is there an affordability crisis? Yes. Are we still lacking supply? Yes. Do we still need more high-density housing near major transit nodes and the zoning to accommodate this type of development? Yes.
The mortgage stress test has been a hot topic since it was first introduced in 2018. Some in the real estate industry believe the policy has done its job and it’s time to revise it, and some believe it should remain the way it is.
Government policy like the mortgage stress test was introduced to cool Canada’s housing market, which it did, but some buyers have decided to simply go a different route, and it could be bad for the overall health of the market.