Quote:
Originally Posted by calgarygeologist
The longer terms are great for investors. When I bought my rental condo it was back when $0 down, 40 year mortgages were available and it was really nice to have very little cash exposed upfront and low monthly payments spread out over a long period.
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Temporarily. The bar for investment was lowered, so more people flooded in, and prices just went up to cover the difference.
People shop for houses based on what they qualify for/pay each month.
This is a great way to help banks make more money while doing absolutely nothing for affordability.