4 ms·

Ottawa to allow 30-year amortization for first-time mortgages on new homes

• robocat 3y ago
  > help make home ownership more affordable Surely not? If people borrow more, then they bid more on houses, and house prices go up. That is the obvious mechanism with interest rates. I admit it is harder to think about first and second order effects of increasing loan term (and long term future effects are more uncertain). Presumably they are disadvantaging • anyone over 40 (would still be paying mortgage at 70) • anyone that currently owns a home. Seems like a big fuck you to them.