Notwithstanding the stupidity of waiting so long and sitting on the sidelines navel gazing at skyrocketing unaffordable housing prices by central banks et al during the last decade….
HIGH TIME TO CHANGE MORTGAGE INSURANCE REQUIREMENTS…
1st TIME HOME BUYERS – 5 PERCENT DOWN UNDER $500,000
1st TIME HOME BUYERS – 10 PERCENT DOWN UNDER 1 MLIONPURCHASE PRICE EXCLUDING HST ON NEW BUILDS
ANYTHING OVER $1,000,000 ASKING PRICE…
1st TIME HOME BUYERS – 15 PERCENT DOWN
ALL OTHERS….
30 PERCENT DOWN UNDER $1,000,000
35 PERCENT DOWN OVER $1,000,000
50 PERCENT DOWN ON INVESTMENT PROPERTIES
SCRAP THE STRESS TEST….
REAL TEST IS IF YOU SAY YOU CAN AFFORD TO BUY AND DON’T MAKE PAYMENTS….
YOU BE HOMELESS JACK & JILL
RENT
PERIOD END OF STORY
BTW – EVEN WITH NO MORTGAGE INSURANCE…
DON’T TRY TO BULLSHIT THAT MORTGAGE HOLDERS ARE LOSERS IN A SKYROCKETING MARKET….
THE RISK IS THAT ALL MORTGAGE HOLDERS ARE LOSERS IN A HOUSING MARKET CRASH IN WHICH NO AMOUNT OF INSURANCE WILL EVER BE ABLE TO COVER… IT WILL NEED GOVERNMENT BAILOUTS (DIRTY TABOO TALK OF THE XXX RATED KIND)
OH… LET’S NOT FORGET FOREIGN BUYERS….
80 PERCENT DOWN AND A MAX OF 3 INVESTMENT PROPERTIES… ALL OTHER PURCHASES ARE 100 PERCENT DOWN…. WITH A DAMN CLOSE SET OF EYES AND SCRUTINY ON THE SOURCE OF MONEY FUNDING PURCHASES… NO MONEY LAUNDERING AND DIRTY BACK HANDED GETTING AROUND THE LOOPHOLES AND SCREWING BONIFIDE REAL POTENTIAL HOMEOWNERS OF A PLACE TO LIVE IN MY COUNTRY…
DITTO CORPORATIONS… commercial markets that should not be allowed to impact residential homeownership markets, especially first time buyers
HAVE A NICE DAY
SIGNED
LIVENRGY
Live~NRGY 
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