The COVID-19 pandemic is
affecting all sectors of Canada's economy, including housing. Job
losses, business closures and a drop in immigration are adversely
impacting Canada's housing markets, and CMHC foresees a 9% to 18%
decrease in house prices over the next 12 months. In order to
protect future home buyers and reduce risk, CMHC is changing its
underwriting policies for insured mortgages.
One of the major change
we see as being Real Estate Investors is CMHC will not permit
equity takeout to distribute to equity holders. CMHC recommends to
seek out for private lenders for this purpose.
Anyway, I don't want you
to worry about it a lot as CMHC rules are changing all the time.
Since Real Estate market hits hard only when there's significant
downturn in economy as we've seen in 2008 financial crisis and now
due to COVID-19 pandemic, other than that it's just an economic
cycle.
Again if you need my
help to answer your questions on your Real Estate Investments or
you are skeptical to invest in Real Estate, reach out to me at
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