YOUR SAY ... comments on, ‘The Conservative Plan on Housing is a Recipe for Disaster – And not very Conservative’
I have read Johns comments on this , and I offer the following comments: I have been in the real estate industry for 37 years, longer than John was a lawyer and I co-owned and managed the second highest producing real estate office in western Canada so I am quite comfortable in speaking to this. In a previous comment, John implied that with this imitative, we were going to crash similar to what happened in the US in 2008 then threw out some stats that were not even relevant to this and to compare us to the US is frankly a joke. The reason the US market crashed is because the banks down there would loan you 100% of purchase price to buy a home and then to add insult to injury, you could write off the interest on your mortgage payment on your income tax. This was a complete joke because every time there was an increase in market values, Americans would refinance their home so they could go buy motor-homes, boats, toys of all shakes because they could write it...