Millennials Bear Brunt of Fed Policy Changes

Many, if not most, first-time buyers will experience a steep decline in housing affordability on October 17. New rules introduced by the Federal Government will cause the sharpest drop in the purchasing power of low equity home buyers in years. At a time when housing affordability is a critical issue, deliberately chopping millennials’ purchasing power by as much as 20 per cent will only exacerbate a well-known problem.

http://www.bcrea.bc.ca/docs/economics-forecasts-and-presentations/millennials-bear-the-brunt-of-fed-policy-changes.pdf%5d