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Mortgage Broker News | 21 Jul 2016, 08:15 AM Agree 0
New Zealand’s central bank is taking aim at investors by jacking the required down payment for a home to 40% in a bid to cool its market; one industry veteran has some strong opinions about what a similar Canadian would mean
  • Ron Butler | 21 Jul 2016, 10:20 AM Agree 0
    It is hard to understand why anyone would not think the Vancouver housing market is not overheated. With 30% year on year increases that have produced the effect of houses being treated as if they were stock trades a government should be worried about what the eventual effect that rate of increase or the eventual price reversal will impact the public.
  • LanceH | 21 Jul 2016, 10:43 AM Agree 0
    I know nothing about NZ's market, but I can't help imagine, that if one has to put down 40% to buy rental ppty's, they're going to end up with a severe shortage of rental accommodation, and considering the offshore investors often have buckets of cash, will do nothing to deter them. On the surface of it, it doesn't sound the best.
  • BJ | 25 Jul 2016, 12:14 PM Agree 0
    Joe Rosati is correct about the down payment of 40% being "ridiculous". If imposed all that does is further benefit the wealthy. However the real estate market IS overheated (at least in BC). House prices have gone up 20% since January in Victoria - I'd say that is mega-uber-overheated.
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