In terms of provincial measures, the “Homes for B.C.” plan included an expanded foreign buyer tax as well as additional tax and transparency measures. -4although in Vancouver activity and price growth remain subdued. Other urban markets that had weakened, such as Regina and Saskatoon, have steadied or shown some recovery. So, on a national basis, sales and prices appear to be stabilizing.
This suggests that borrowers and lenders are adjusting to the range of policy changes as anticipated, and that financial vulnerabilities are beginning to ease. Growth in household credit has slowed, and the household debt-to-income ratio is edging lower.