With new mortgage rules set to kick in Jan. 1, many are rushing now to get approved before they need to meet stricter stress-test criteria. There’s some fear that the new rules will end up costing Canada $1 billion in lost economic activity from the purchase and sale of homes as more people opt not to buy.
So if you find yourself in the position where you want to buy a house before the end of the year, you’ll have to act fast as the market has already quieted down significantly. This week, we look at million-dollar homes in Calgary, Alta., Toronto, Ont. and Delta, B.C.
Which would you choose?