Canada changes mortgage rules to tackle housing crisis – SFU Experts Available

Finance Minister Chrystia Freeland on Monday announced changes to mortgage rules to help tackle the housing crisis in Canada.

The changes include the government increasing the cap on insured mortgages to $1.5 million, up from $1 million, which allows people to buy a home with a down payment below 20 per cent. The mortgage term was also increased to 30 years for first-time home buyers, or people buying newly built homes.

SFU experts are available to talk about the change in mortgage rules and how they might impact the housing crisis in Canada.

AVAILABLE SFU EXPERTS

ANDREY PAVLOV, professor, finance                     
apavlov@sfu.ca
Expertise: The impact of government introducing and maintaining obstacles to sufficient supply, causing higher home prices. Pavlov argues that the net effect of measures like an increase in capital gains tax, the under-utilized land tax, the foreign-buyer ban and GST on new housing make it riskier and more expensive to provide housing, thus creating artificial scarcity.

LUCAS HERRENBRUECK, professor, economics                     
herrenbrueck@sfu.ca
Expertise: Effects of mortgage rule changes on housing, inflation and the price of assets. 

CONTACT

JEFF HODSON, SFU Communications & Marketing 
jdhodson@sfu.ca

Simon Fraser University
Communications & Marketing |  SFU Media Experts Directory
778.782.3210

ABOUT SIMON FRASER UNIVERSITY

Who We Are
As Canada’s engaged university, SFU works with communities, organizations and partners to create, share and embrace knowledge that improves life and generates real change. We deliver a world-class education with lifelong value that shapes change-makers, visionaries and problem-solvers. We connect research and innovation to entrepreneurship and industry to deliver sustainable, relevant solutions to today’s problems. With campuses in British Columbia’s three largest cities—Vancouver, Burnaby and Surrey—SFU has eight faculties that deliver 364 undergraduate degree programs and 149 graduate degree programs to more than 37,000 students. The university now boasts more than 180,000 alumni residing in 145+ countries.