First Time Home Buyer Incentive....

[farmaholic]

Federal program.....Interest free loan...

Up to 5% on existing home

Up to 10% on new build

480K cap on house value

Borrower can't earn more than 120K per year.

What next....pay people to buy houses?

Didn't they just tighten mortgage qualifying rules?

Ya, housing must be booming,

[Guest]

Why not
No one needs to work anymore
Tis the liberal way

[farmaholic]

That's like borrowing part of the down payment!

[AlbertaFarmer5]

I doubt it occurred to anyone that there would be unintended consequences. The savings from this program will get built into the price of a house, and people will still borrow the max amount the bank will allow, and affordability will be exactly the same as it was before, but the bubble will be a little bit bigger when it finally does burst.

I just can't figure out what economist our federal politicians(of all stripes) are listening to who somehow think that housing is in any way an important part of our economy, as opposed to say, all of the actual revenue generating industries...

[ajl]

What could possibly go wrong? Canuckistan is a shit hole country with no real economy so housing and real estate speculation are a huge part of what passes for an economy here. House price can't fall because if they do banks go under and they fund things like pensions and benefit programs. Government is so confident they can manufacture inflation that they come up with a program like this. What needs to happen instead is to stop printing money and have housing cost become affordable again. Plenty of empty housing in Canuckistan. Why should any one work hard so they can service a $400000 mortgage on a $200000 house? Bring back sound money otherwise hard work is just a fool's errand. Real estate speculation is where it is at.

[sumdumguy]

Is there an election coming up?

[GDR]

Dont agree with this new program at all. But what I really don't get is why everyone wants to live in those areas with such high house prices anyhow. So many small towns with houses worth a fraction of the Toronto or Vancouver houses, would bet a better place to live in general anyhow, especially for families. Even heard of towns giving lots away just for taxes. I hate cities, just dont get it. In this day and age it's pretty easy to work remotely anyhow.

[SASKFARMER]

It's a new generation. Have to have the newest biggest home one day after starting out or getting your first job.

Get married move into mega home 3.1.

No one starts as we all did with a small one fix it up to sell move on up and finally have a nice new home. It takes years. Not for people kind. Do it in one quick swoop.

For FAKES Sakes.

[jazz]

Never in my life would I have imagined leftist radicals taking over the country. The Sask NDP looks tame compared to some of these guys.

This is a product of two things, our poor parenting and immigration. Some peope have coddled their kids and I am guilty of that too wanting them to have the best I can give but that doesnt mean I want them to be socialists.

As for the immigrants we are bringing in, they don't know how an economy functions in the first place because those countries never had one. Free stuff paid for by others they will vote for that over and over again. Its the reason why CA is Mexican now and will never vote conservative again. Every country south of the US is socialist. What happens when you import socialists, they vote for socialism.

[Guest]

Never in my life would I have imagined leftist radicals taking over the country. The Sask NDP looks tame compared to some of these guys.

This is a product of two things, our poor parenting and immigration. Some peope have coddled their kids and I am guilty of that too wanting them to have the best I can give but that doesnt mean I want them to be socialists.

As for the immigrants we are bringing in, they don't know how an economy functions in the first place because those countries never had one. Free stuff paid for by others they will vote for that over and over again. Its the reason why CA is Mexican now and will never vote conservative again. Every country south of the US is socialist. What happens when you import socialists, they vote for socialism.

History always repeats
Most democracies dont last more than 200 years
Most family farms dont make the third gen., very very few make the fifth
Its all about entitlement, laziness and arrogance in both cases

[littledoggie]

Is this what Millenials want?

https://www.cbc.ca/radio/ideas/reclaiming-marxism-in-an-age-of-meaningless-work-1.5175707?fbclid=IwAR3yun_bNGo-Y_lfVA_3Kyqk-3DGLUjP2jbJNnbKPd0VyP5UovlsH_3YzWw

[jazz]

So CMHC becomes a partner in your mortgage. Home goes up, you sell they get part of your CG. House goes down, you sell, lose money, CMHC loses too and that loss is eaten by tax payers. Sounds about right in our whacko world.