Is the logic that a principal residence tax, would give people less money to spend on the next place? Ergo the next place would cost less? Because people selling then buying, would have less means, lowering over all prices? I'm not 100% sure how much impact that would work.
I often wonder about CMHC itself. Removing the risk from Banks on high ratio mortgages, so people who wouldn't ordinarily be able to borrow could borrow. Thus creating bidding wars on real estate with even more borrowed dollars. Why don't we get rid of CMHC to try and bring prices down?
I often wonder about CMHC itself. Removing the risk from Banks on high ratio mortgages, so people who wouldn't ordinarily be able to borrow could borrow. Thus creating bidding wars on real estate with even more borrowed dollars. Why don't we get rid of CMHC to try and bring prices down?