Quote:
Originally Posted by powderjunkie
It's fine for a primary residence to be an appreciating asset (or just an asset...appreciation should not be assumed or guaranteed).
It's less fine for investors to spin 5% DPs into multiple properties over and over to the point that it skews the nature of the housing market. Of course there are two sides to the coin where increasing supply is the paramount concern, but in the near term the capacity to build seems somewhat finite, so it's more a matter of who should have 'easiest' access to that supply, thereby influencing the form of housing built.
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Don't necessarily disagree -- but if you increase the mortgage DP requirements doesn't that also make it harder for every day people to buy?
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A few weeks after crashing head-first into the boards (denting his helmet and being unable to move for a little while) following a hit from behind by Bob Errey, the Calgary Flames player explains:
"I was like Christ, lying on my back, with my arms outstretched, crucified"
-- Frank Musil - Early January 1994
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