[Social Development and Housing Minister Kelly Lamrock—-File Photo]
Concerned that many people are taking on too much debt, Ottawa has moved to make it tougher for first-time buyers to get in over their heads when entering the hot housing market. Social Development and Housing Minister Kelly Lamrock tells CHSJ News, we don’t want to see in this country what happened recently to the housing market in the United States:
One of the measures would require a potential home owner to meet the ability to pay a five-year fixed-rate mortgage whether they chose that option or not.
