Canada Government and Bank of Canada - please take an immediate action.

Canada Government and Bank of Canada - please take an immediate action.

0 have signed. Let’s get to 100!
At 100 signatures, this petition is more likely to be featured in recommendations!
Khyati Pothiwala started this petition to Canadians and

Solve: Unaffordable red-hot Housing Market

The homes are unaffordable and the home prices increase way way more than family income. We must act now for our kids future. 

The ask: 

I: consider breaking the interest/prime rates into two buckets. 

1, Housing 
2, Everything Else 

Keep the low rates for everything else. And adjust/increase the housing rates to control the housing market. 

II: consider creating the rules and regulations to control the selling practice, both for the new and resell homes. Please protect the consumers. 

example-1: the community plan approved for 250 homes, but the builders release 5-10 homes at a time, it is so called phase approach. And with every phases, it keep increasing the home prices. This bad practice influence artificial demand and sky rocket the prices. 

example-2: the home sellers listing the low price purposely than expectation that creates the bidding situations, and some cases ended up sold home 20-30% more than asking. This practices to create artificial demand badly influence the price increase.

III: consider making the rules to control the use of the foreign funds in home down-payment. Foreign funds should inject into the economy and not just in the housing market. (Direct foreign investment and injecting foreign funds by Canadian/Immigrants are two different things.)

Government must act now. 

 

0 have signed. Let’s get to 100!
At 100 signatures, this petition is more likely to be featured in recommendations!