Honourable Jim Flaherty, Minister of Finance made yet another adjustment in lending policies which is crippling the average persons ability to borrow money to buy a home in Vancouver..

* He reduced the maximum amortization period to 25 years from 30 years.

* He lower the maximum amount Canadians can borrow when refinancing to 80 per cent from 85 per cent of the value of their homes.

* He Fixed the maximum gross debt service ratio at 39 per cent and the maximum total debt service ratio at 44 per cent.

* He Limit the availability of government-backed insured mortgages to homes with a purchase price of less than $1 million.

With these changes that took place July 2012 plus the big changes that happened in March 2012 he's making very difficult for people to get mortgages.

Time for the government to stop over regulating the real estate business and let the market determine things for themselves

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