A Canadian doc posted here https://www.reddit.com/r/TorontoRealEstate/s/uYj8AyIPEH Two homes. One on fixed while the other one on variable. Obviously the one with variable rate should see increased payments...right ?? Wrong! The bank has extended amortization to such ridicoulous lengths. No wonder Canada is such a sham. Low salaries while housing is propped up . So many govt programs to incentivize buying and stoking demand rather than supply - tax free investment accounts for home purchase, interest free loan from the govt, tax rebates for home expenditures, govt body that protects banks money in the even of a default . Free markets my ass. #mortgage #housing #toronto #canada
I don’t understand why they can’t build more houses and let things crash. After all, all investments come with risks.
Just moved to Canada. I can't think of one policy that's not counter intuitive. I'm not even exaggerating. Childcare for example is very high , no one is incentivised to give birth, yet they import immigrants in millions
Now they're limiting temporary workers etc, when everyone knows foreign buyers is the root cause of the problem.
NOT THE HECKIN AMORIZATIONARINOOO
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