Looks like the Federal Government may be tightening the rules on buying a new home.
This comes as our debt in Canada is now averaging 146% of personal disposable income.
In the US, when we hit the big crisis, roughly the same percentage was registered, which is very high. The Fed's want to look at making sure that this doesn't happen here in Canada.
We don't think that this would happen right away, however, may happen sooner than later. This isn't a good thing as we're already in a very slow market.
The article I read is here http://bit.ly/9HyqB2
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