On Monday, May 27, we were pleased to host anther highly successful Parliament Hill Advocacy Day.
Our delegation of member volunteers, led by your Executive Committee, had a full day of meetings with dozens of MPs and their staff to discuss the ongoing impact of mortgage rule changes which are slowing housing market activity, decreasing competition and increasing costs for consumers. Specifically we reinforced the serious, undue and negative impacts the stress tests are having on the Canadian economy and housing market and asked government to consider prudent amendments to the current structure.
To support our position, we recently released a new report, The False Binary, which further outlines how the current stress tests have contributed to a sharp decline in housing activity in Canada. Impacts within resale markets have gotten considerable attention and even more importantly, new home construction and home renovations are on a national downward trend.
Be sure to check out the Hill Day photos on our social media channels.