Quote:
Originally Posted by Calgary14
Increasing the minimum down payment required to 10% would likely be a bit drastic considering how much houses cost these days
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Except it would directly make houses more affordable.
Houses sell for what people can pay. The dollar amount per month people will pay hasn't changed dramatically. They amount they can borrow has gone way up with lower interest rates, which have fuelled much higher housing prices.
If you take away the buying power of a bunch of people, you reduce the price of a good.
I hope they do it, housing is stupid in Canada.