Quote:
Originally Posted by Cowboy89
Is that supposed to be comforting? Buying something while borrowing 95% of the purchase price is having virtually nothing as a downpayment. Basically if CMHC has to get involved, it's a transaction that doesn't fly on it's own merits and needs taxpayer subsidization.
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How is it taxpayer subsidization? When was the last time CMHC went to the government for funds for their commercial operations? Oh that's right, never! When was the last time CMHC wasn't a profitable business? The CDN Government has earned over $14 billion from CMHC over the past decade.