[QUOTE=Slava;2674296]
Quote:
Originally Posted by AFireInside
Not saying that you're lying or anything, but do you have a link for this? Everything I've seen says that in Canada these kinds of mortgages make up a small amount of the borrowing.
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That's exactly what I was going to ask. No doubt there were zero down mortgages taken out but a VERY LARGE PORTION of mortgages from 2006 to 2008 is stretching it quite a bit.
From my experience working with first time homebuyers a VERY LARGE portion of them used RSP's, Savings or a combination of both. A surprising amount of people also received gifted down payments from their parents.