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I'm honestly not sure which is worse, the Conservative plan to allow 30 year mortgages or the Liberal plan to have the government loan people money for their do
by cperciva 7y ago
I'm honestly not sure which is worse, the Conservative plan to allow 30 year mortgages or the Liberal plan to have the government loan people money for their downpayments...
- cheez 7y agoBoth plans seem geared to draw the votes of current homeowners, also more likely to vote in elections.
- cperciva 7y agoI agree. And it makes me sad that parties are deliberately adopting policies which they know are bad policy (they hire economists who tell them this!) because they prioritize electoral success over doing what's good for the country.
- cheez 7y agoThe better solution is to get more people involved in politics, then we will realize that if everyone votes, no one benefits therefore government should be limited. I can dream....
- cpach 7y agoWhat is the standard today in Canada? Less than 30 years?
- cmrdporcupine 7y agoTypical is 25 years. We had 30 year mortgages before and they were eliminated to try to cool the housing market.
- infinite8s 7y ago25 years, but the rate is fixed in 5 year terms (ie after 5 years you renegotiate the rate).