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The C.D. Howe Institute is an independent not-for-profit research institute whose mission is to raise living standards by fostering economically sound public policies. Widely considered to be Canada's most influential think tank, the Institute is a trusted source of essential policy intelligence, distinguished by research that is nonpartisan, evidence-based and subject to definitive expert review.

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Cooling Property Prices in the GTA


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Roundtable Luncheon with Andy Charles, Tim Hudak, and Benjamin Tal
Monday, June 26, 2017 - 12:00 to 13:30
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Toronto ON, C.D. Howe Institute, 67 Yonge Street, Suite 300
  • Cooling Property Prices in the GTA

C.D. Howe Institute events are open to members and their guests. Members can register online by signing in here, or contacting cdhoweevents@cdhowe.org.

Steadily increasing property prices in the Greater Toronto Area and beyond have sparked growing concern from governments, homeowners, and financial institutions. Join our panel of experts as they make the case for the single policy change that they believe will be most effective in cooling the market.  


Andrew Charles, President & Chief Executive Officer, Canada Guaranty Mortgage Insurance Company

With more than 25 years of financial services experience, Mr. Charles established a reputation for building successful organizations from the ground up. Prior to joining Canada Guaranty (formerly AIG United Guaranty), Mr. Charles enjoyed a rewarding 15‐year tenure as a CIBC executive, where he led two recognized mortgage business units as President of HLC Home Loans Canada, and later, the development of the President’s Choice Financial mortgage business. In 2005, Mr. Charles joined AIG United Guaranty as President and CEO, where he effectively introduced a third mortgage default insurer to the Canadian marketplace, ending a longstanding market duopoly. Mr. Charles guided the Canadian operation through the global financial crisis and facilitated the successful transition to Canadian ownership. In 2010, Mr. Charles successfully launched Canada’s only 100% Canadian private default mortgage insurer. Canada Guaranty provides mortgage default insurance coverage to the largest financial institutions inclusive of Canada’s banks and well established mortgage lenders. On November 25, 2012, in recognition of his enduring career and contributions to the mortgage industry, Mr. Charles was inducted into the Canadian Mortgage Hall of Fame.


Tim Hudak, Chief Executive Officer, Ontario Real Estate Association

Tim Hudak is the CEO of the Ontario Real Estate Association (OREA), Canada’s largest provincial real estate industry association representing 70,000 REALTORS®.After a distinguished 21 years of public service in the Ontario Legislature, making the move to OREA was a perfect fit. As Minister of Consumer and Business Services, Hudak worked closely with OREA to write the Real Estate and Business Brokers Act, 2002 as well as a long list of pro-homeowner and pro-REALTOR® policies, from stopping the spread of the municipal land transfer tax (MLTT) to permitting the use of electronic signatures. Since becoming CEO last fall, Hudak and his OREA team have focused on high impact advocacy on behalf of REALTORS® and consumers and the delivery of quality services to members. Protecting the dream of home ownership and making it more affordable for young families is also high on Hudak’s agenda for a reinvigorated OREA. Hudak recently travelled the province from Toronto to Timmins, Windsor to Ottawa, hearing directly from REALTOR® leaders and others who care about the profession to gain insights and a local perspective on the real estate industry. These insights will help strengthen the industry going forward. Hudak earned an Economics degree from the University of Western Ontario, and was subsequently awarded a full academic scholarship to the University of Washington, where he obtained his Master of Arts in Economics. He is married to Deb Hutton and together they have two daughters, Miller and Maitland.


Benjamin Tal, Deputy Chief Economist, CIBC World Markets Inc.

Benjamin Tal is a managing Director and Deputy Chief Economist with CIBC World Markets Inc. He is responsible for analyzing economic developments and their implications for North American fixed income, equity, foreign exchange and commodities markets. He also acts in an advisory capacity to bank officers on issues related to wealth management, household/corporate credit and risk. Well known for his ground-breaking published research on topics such as labour market dynamics; real estate; credit markets; international trade; and business economic conditions, Benjamin not only contributes to the conversation, but frequently sets the agenda. He has close to 20 years experience in the private sector advising clients; industry leaders; corporate boards; trade associations; and governments on economic and financial issues. National and global media regularly seek him out for his insight and analysis on economic issues that impact financial markets, consumers, corporations and public policy. He is also a frequent lecturer in the economic programs of various Canadian universities. Benjamin is a member of the Economic Committee of The Canadian Chamber of Commerce, The Economic Development Committee of the Toronto Board of Trade and is a board member of the Toronto Association for Business and Economics (TABE).

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© 2018 C.D. Howe Institute. All Rights Reserved.

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© 2018 C.D. Howe Institute. All Rights Reserved.