Quote:
Originally Posted by The Fonz
Good post, but I don't understand this point above. Haven't mortgages since been capped at 25 years, and require minimum 5% down payment?
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Yes...that 40 year mortgage thing was in place for less than a year. It's pretty irrelevant though, as it's not Canadian money fuelling the craziness right now, it's foreign investment and immigration. Reducing mortgage lengths from 40 to 25 years has literally no effect on housing prices. They continue to rise.
Just as the 2009 budget deficits had everything to do with the global economic crisis and little to do with domestic policies.