Many Oppose Tougher Mortgage Rules?
August 26th, 2008 In the article referenced by the link at the end of this post we see that the majority of Canadians feel the tightening of lending in Canada is a good thing, but you wouldn’t guess that from the title. It seems that we keep hearing the minorities views being flogged as the majorities views, no wonder people are scared regarding the future of real estate prices.
photo courtesy E-Rocks
If you give much though to it, how would going back to requiring 5% down and a 35 year term really be considered tightening, if anything this will only prevent a small number of those that really can’t afford to buy real estate from buying it, which should have more of a positive effect on the overall real estate market than a negative one, have we not learned anything from the US.
Is the Market Really Doom and Gloom? What do you think?
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