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DurhamCitizen.ca May 24, 2021 5

Building the future

health care system in

Durham Region

Pickering, Whitby or Oshawa? Lakeridge Health begins

site search process for new hospital

Durham Region – While Lakeridge new hospital in Durham Region is a Region and define the future of a The Independent Expert Panel will
Health continues to remain major component of the hospital’s coordinated system of health care be responsible for all aspects of the
Master Plan, which serves as a
vigilant during the third wave of care delivery in Durham Region. “ for generations to come,” said site selection process, including
the COVID-19 pandemic, planning roadmap for the future of health Sharon Cochran, Chair of the establishing criteria to evaluate
has resumed on the commitment “This will benefit all of Durham Board of Trustees, Lakeridge each site that is brought forward
to build a long-term, robust and Based on demand, evidence, and Region and define the future of Health. “It will be important that from interested parties. After
integrated, regional health care growth projections, Lakeridge a co-ordinated system of the path forward focuses on unified evaluating all site proposals, the
system for the residents of Durham Health is planning for inpatient health care for generations to support of a new hospital facility in Panel will make a recommendation
Region. bed growth of almost 1,000 beds to come,” said Sharon Cochran, Durham Region, the learnings of for the preferred site to the Board of
“As we manage this third wave, we meet projected demand over the chair of the board of trustees other hospitals, and the siting Trustees, who will then make a
are beginning to re-focus on next 25 years. Anchoring this plan for Lakeridge Health. requirements required to support recommendation to the Minister of
system building, as part of our are recommended key capital “It will be important that the our Master Plan.” Health on which site to protect for
vision of One System, Best Health.” investments and upgrades, path forward focuses on This work to protect a site for a future hospital use.
said Cynthia Davis, President and including the expansion and proposed new hospital will be As this process unfolds, Lakeridge
unified support of a new
CEO, Lakeridge Health. “While we redevelopment of Bowmanville focused on a clear, transparent, and Health will announce additional
hospital facility in Durham
resume this important work, it will Hospital and the new hospital. well-communicated process. It will details on the Independent Expert
Region, the learnings of other
be critical that key pandemic Lakeridge Health’s Board of be overseen by the Board of Panel, the selection process, and
hospitals, and the siting
learnings, and how the delivery of Trustees has determined that an Trustees and implemented by an timelines.
requirements required to
medical and health care has important step forward is Independent Expert Panel. The The process will include regular
support our Master Plan.”
changed as a result, inform the launching the process for Panel will be supported and guided c o m m u n i c a t i o n s a n d
future development of the identifying and protecting a site for by an independent Executive Lead, opportunities for community
Lakeridge Health system.” a proposed new hospital and a Fairness Advisor will also be input at defined milestone
The proposed development of a “This will benefit all of Durham appointed. activities.

New mortgage stress test rules

will make it harder for

first-time homebuyers: experts

in the air, however. "We are seeing a lot of people
According to Walks, the short time asking questions, there's a lot of
span between now and June 1 confusion in the marketplace, so I
would allow just a few homebuyers find a lot of false information
to squeeze in purchases this week. because the information keeps
On the other hand, McFadyen said changing," McFadyen said.
Canada's new mortgage stress test home and that a majority of them Toronto urban planning professor that we're more likely to see "a "You know, again, I think it's one of
rules are going to make purchasing w o u l d b e t a k i n g i n s u r e d David Hulchanski in an email. sprint to the finish line here in the those situations where clearly the
homes a bit harder for first-time mortgages. Hulchanski said that real estate n e x t s e ve n t o 1 0 d ay s " o f government or whoever is involved
homebuyers, according to several Such insured mortgages are loans associations and home builders homebuyers finalizing their in making these decisions should
mortgage and housing policy that have less than 20 per cent of would also be impacted, as houses purchases before the June date. be communicating much more
experts. the property's down payment paid, that aren't sold or built would What he says is another serious clearly -- people are not actually in
The new rules, which are set to but come riddled with more rules, decrease profits for them, though issue about the change is just a a position to [make] a change seven
come into effect June 1, ups the regulations and guidelines. the major players in the Canadian plain lack of communication and days before it goes into effect
minimum qualifying rate, which is "There is going to be an impact. It's housing market, such as multiple clarification from the government. without a lot of clarity."
a gauge of whether borrowers can not, as we talked about, a dramatic property owners, aren't going to be
handle payments should interest impact," said McFayden in an affected at all due to the "huge
rates increase. interview with Global News on income and wealth gap."
According to the Office of the Saturday. "So the changes on June 1 will only
Superintendent of Financial According to him, the changes are affect a small number of potential
Institutions (OSFI), which not likely to impact the market in first-time buyers and those playing
confirmed the upcoming changes the same way as when the stress the market who are not very
on Thursday, the rates would rise to test last changed. wealthy," he wrote.
either the contracted rate plus two The 2018 stress test change reduced University of Toronto geography
percentage points or 5.25 per cent - borrowing power by 22 per cent and planning professor Dr. Alan
- whichever is higher of the two. while this year's change would Walks also agreed that the changes
Several mortgage and housing reduce borrowing power by only would likely have an effect, albeit
policy experts have told Global about four to five per cent, he said. small, on the housing market.
News that the rise would make it Several other experts said that "I think one of the banks estimated
more difficult for some to qualify while there would be some impact the changes will reduce purchasing
for a mortgage in the short-term. o n g r o u p s l i k e fi r s t - t i m e power by something like four or
Vancouver-based mortgage broker homebuyers, the changes would be five per cent, so not huge on its
Alex McFadyen said that first-time very slightly felt as a whole across own," said Walks in an email
homebuyers in particular are likely the Canadian housing market. Saturday.
going to be impacted the most "Subtle changes in the stress test Whether or not an influx of
from the new rules because they're rules have little impact. Yes, first- potential homebuyers will be
likely to not have as much equity as time buyers on the margins get scrambling to finalize their
those who've already purchased a hurt slightly," wrote University of purchases ahead of June 1 is still up