Quote:
Originally Posted by Fire
The government needs to change mortgages to 10% down min and max 25 years. That would bring down house prices back to normal historical averages.
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http://www.theglobeandmail.com/repor...rticle1847034/
IMF is basically saying this also
"Ottawa could curb borrowing by making it tougher to take out a mortgage, the IMF said.
“At this point, probably the appropriate thing to do is to wait and see how the credit cycle matures but one option would be to take more steps on the mortgage market, or others, to rein that in a bit more if it doesn’t decelerate further to a level that’s more sustainable,” Mr. Kramer said."
It also highlighted an issue that has grabbed policymakers’ attention in Canada recently - the alarming rise in household debt levels to 143.6 percent of disposable income, just below the U.S. level of 148.6 per cent.