Earlier this week Mortgage Professionals Canada President and CEO, Paul Taylor was invited to participate in a housing panel led by Deputy Prime Minister and Minister of Finance, Chrystia Freeland, and Minister of Families, Children and Social Development, Ahmed Hussen.
Of the experience, Paul said:
"I was very encouraged by the agenda and discussion focused on housing affordability and accessibility in Canada. Housing supply is desperately needed in all segments of the housing continuum.
As a country, we need to ensure Canadians at all levels of the income and wealth spectrum have housing options available that can affordably meet their needs. We also need to ensure we have policy and structure in place that encourages ownership of the limited supply we have by owner occupiers, and that can balance the opportunities for ownership for first time buyers in our very competitive market place. Continuing increased restrictions on mortgage qualification in the insured market is a significant detriment to many aspiring home owners, and biases the retention of the existing stock for existing owners. We need to think differently."
MPC is encouraged by the rich discussion and thankful for the open and collaborative approach taken by the ministers throughout the session. We look forward to more focused discussions on potential solutions to our housing concerns.
In addition to Ministers Chrystia Freeland and Ahmed Hussen, the round table discussion also included Michael Bourque – CEO of CREA, Kevin Lee – CEO of the CHBA, Jennifer Keesmaat – the Keesmaat Group, Thomas Davidoff, Associate Professor at Sauder School of Business, Julia Deans – CEO of Habitat for Humanity, Tim Ross – Executive Director of Cooperative Housing Federation of Canada, Ben Rabidoux, President of Northcove Advisors, and Jill Atkey – CEO of the BC Non Profit Housing Association.