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Mortgage Broker News | 21 Oct 2016, 08:15 AM Agree 0
CMHC privatization would help Canadians cope with the lack of affordability in the country’s hottest housing markets, Tory leadership candidate says
  • LanceH | 21 Oct 2016, 09:55 AM Agree 0
    Chong is Wrong!! He clearly doesn't know how it works. CMHC is "too big to fail", and if sold, then went under water, taxpayers would still be on the hook. The big difference being, he gave away 2B that CMHC puts into Fed coffers. And the Fed backs private insurers like Genworth to 90% and would have to do the same for CMHC. If he wants to reduce that backing to 90% for CMHC too, and level the playing field, fine, but anything beyond that is foolishness based on his ignorance.
  • André Asselin | 21 Oct 2016, 11:42 AM Agree 0
    So, as I understand this, with CMHC privatized, there would be less access to mortgage credit, which means there would be fewer purchasers of homes and thus prices would be lower. Mr. Chong thus wants fewer families to be able to purchase a home and therefore to borrow less. In turn, this means less business for the mortgage industry, less jobs for the construction industry etc... got it.
  • Jerry Rush | 21 Oct 2016, 11:44 AM Agree 0
    Good idea
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