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Jason Kenney promises push for change to federal home buying rules

Jan 31, 2019 | 5:52 AM

CALGARY — Alberta’s Opposition leader says he will push for changes to federal rules to make it easier for people buy a home.

Jason Kenney, in a speech to realtors, says so-called stress tests for home-buyers are unfair.

And he says they punish markets like Calgary, where the economy and housing prices are trying to rebound.

Stress tests make sure that home-buyers have the financial means to not just put down a down payment, but also weather hikes — or spikes — in interest rates.

Critics say this unfairly depresses the market and puts a chill on home-buying.

Kenney says a United Conservative government would push the feds for an Alberta exemption on the tests.

Premier Rachel Notley says while she can examine the issue, the rules are in place for a reason.

She says while Albertans have the highest level of incomes in Canada on average, they also have the highest average debt-loads.