These new rules being rumoured will certainly make it tougher to qualify for a lot of entry level condo buyers who frequently are shopping near the top of their price range.  In my opinion this doesn't make a lot of sense, as the maintenance of a home is not taken into consideration when applying for a mortgage for a freehold home.  Let's imagine you purchase a freehold home at the maximum of your price range as approved by the bank.  If the home was a few years old you won't likely have any maintenance to do on the home for a while so it will be affordable. In another scenario you purchase a 200 year old, fixer upper home at the top of your price range.  This is clearly not going to be affordable assuming your income remains static.  What do you think? 


http://www.ctv.ca/CTVNews/Canada/20110114/condo-rules-110114/