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Why we don’t need to baby first-time homebuyers

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Why we don’t need to baby first-time homebuyers

The Globe and Mail

We’re starting to hear a lot about a new victim class in the Canadian economy – the first-time home buyer.

Houses in some cities keep rising in price, while the federal government keeps making home buying either less accessible or more expensive. The latest example is the announcement Tuesday by the federal agency Canada Mortgage and Housing Corp. that it will boost premiums on the mortgage default insurance that home buyers must pay for if they have a down payment of less than 20 per cent.

http://www.theglobeandmail.com/globe-investor/personal-finance/genymoney/cmhc-move-is-a-strategic-step-in-the-right-direction/article33644881/

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