I just don't get the logic behind this and it seems to be based on the assumption that house prices always go up.
CMHC needs to clearly answer what happens if/when someone sells and there is a negative equity situation. The fact they haven't addressed this in the initial outline means they are hoping/assuming prices won't go down, or they don't want potential homebuyers to consider that scenario as it means they might decide not to buy. If CMHC has to eat a loss that essentially means the taxpayer is on the hook for it
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