Quote:
Originally Posted by rubecube
Also, how many people are pre-approved for a $750,000? Even if I doubled my income, the max I'd be approved for is $450k, so how does this actually help people in cities like Victoria and Vancouver, especially those looking to start a family?
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You don't have to buy a $750k house. It's a 5% loan on whatever you buy. I mean it won't help people looking in Vancouver but then again it won't rekindle that manic market either. I don't see this driving prices artificially in balanced, smaller markets...the rest of BC.