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First-time buyers likely to feel main impact of new mortgage rule

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Defazto | 12 Feb 2016, 10:49 AM Agree 0
This is the second time REP has posted this title (First-time buyers likely to feel main impact of new mortgage rule). I find it misleading and a bit of sensationalizing a topic. The average first time buyer does not buy a home over 500,00.00. I have had future clients worried that they now need 10% down for a $300,000 dollar home. The title should read:

Most First-time buyers purchasing homes not likely to feel main impact of new mortgage rule.
  • K.R. Kella | 21 Aug 2017, 08:32 AM Agree 0
    It's my opinion that our minions of power are once again losing their way, in the arena of First time home ownership. Putting a tounaquit on an already vulnerable hand only hurts our economy, in the long run. Why not go in a different direction, as has been done many a time in our history. How about letting first timers, have access to interest free loans of up to , perhaps, $10,000, to assist with the downpayment, with payments to commence not later than the 3rd year of ownership. If the homeowner decides to sell, the debt can be either paid then, or in event of a devaluing, can be carried forward. The government has more than several ways to get back these funds. It's simply an idea.... Where the government is taking a more energetic and positive position, with the long term focus being, to introduce new blood into the economy. My view has always, and always will be, that when you allow for the "haves" , to "have more" you will further expidite the already polarizing of our great country, by creating a more transient " have not " society. We will, as a society, eventually be brought to answer. This "piper" will have to be paid.
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