New mortgage rules for rent to limit first-time homebuyers

So now CMHC is only going to take 50% of the rental income from basement apartments. Not good (I wonder if CRA will do the same). Expect to see values come down in Vancouver and Toronto where this was a popular option.

I always thought having a tenant pay for part of your mortgage as a prudent strategy to decrease your expenses so you can save and invest that money into property in the future...CMHC feels that's speculating.

I love how the tenant association gets quoted saying its a good thing when smaller landlords have been the saving grace for the rental industry because very few purpose built projects will be built.