RECOMMENDATION 1

The Government of Canada work with its provincial/territorial counterparts to ensure that – when needed – they implement responsible measures that will result in stable, affordable regional housing markets.

RECOMMENDATION 2

The Government of Canada examine increased support for first-time homebuyers.

RECOMMENDATION 3

The Government of Canada use Statistics Canada to address the gaps in housing-related data by creating a nationwide database that incorporates research from provincial/territorial and municipal governments, as well as research organizations. Such a database should provide data on home purchases and sales, homes purchased with cash, non-primary mortgage lending, foreign ownership of homes, loan-to-value statistics in relation to Canadian homes, Canada’s rental markets, investors in Canada’s housing markets, and the demographic profile of homeowners.

RECOMMENDATION 4

The Government of Canada ensure that further changes to Canada’s mortgage regulations do not occur until sufficient time has passed to assess the effects of the 3 October 2016 changes to those regulations.

RECOMMENDATION 5

The Government of Canada endeavour to ensure that mortgage regulations treat all mortgage lenders fairly.