Canadian finance ministry announces three new measures
- The government will close loopholes surrounding capital gain exemptions from the sale of primary residences (this is largely to target foreign buyers)
- Will standardize eligibility criteria for high and low-ratio insured mortgages
- Will develop more mortgage rate stress testing
Many of these measures should have been brought in years ago before the bubble was inflated. The risk here is that the government lets the air out too quickly, although there isn't much to chew on with these half-measures.
