The U.S. housing market has a lower risk of crisis today, thanks to lower household debt levels and house prices that are better aligned with household incomes. It argued many housing markets around the world are becoming less stable due to the inflow of cash from foreign buyers. Another way to reduce risk in a housing market is through "macroprudential measures," the IMF said, such as reducing how much homebuyers can borrow relative to their income. They argue the stress test has shut out many would-be buyers from the housing market. The CMHC says the program will have only a very small impact on house prices, pushing them up by a fraction of a percentage point.

Source: Huffington Post April 06, 2019 20:18 UTC