As if 5% wasn’t already a STRETCH here in the Lower Mainland… it “could” be moving up. We are just fine with 25 year amortization as well. I suggest the Gov’t take a peek at CONSUMER SPENDING not housing… It’s the purchase of depreciating assets and the “fun factor” that are getting folks in trouble with debt with the no qualifying and high rates! Please, lay off us responsible peeps buying appreciating assets! Please stop manipulating the market where its not needed.
Read the full article from the Financial Post HERE
The Financial Post has learned Ottawa has been studying proposals to increase the minimum down payment from 5% and is particularly keen on adding restrictions for high-priced housing, hitting Canada’s…
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