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Originally Posted by trew
In normal times, I would tend to agree with you on the "purchase tax" thing. However, now that the market is getting frothy, CMHC and GE Capital are taking on some "actual" risk by insuring the low-down mortgages.
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How do you figure? I would have thought the opposite would be true; because a house I buy now for $300K will be worth $340K in a few months, how is that really a risk? Or is there something else I'm missing here?