Opportunity or threat?
Hi all,
So up here in Canada, the finance minister is contemplating the idea of lowering personal debt by making it harder to purchase a home. At present one can buy with 5% down and amoritzation limitations of 35 years.
If, for example, the downpayment goes up to 10% and amortization caps at, say, 30, years I can see less opportunity owning homes.
Now, I thought of this as an opportunity rather than a scare.
I see this situation as a good idea to get into rental buy and hold.
Any opinions out there?
Its a hypothetical at this point but I'm new to this and I'd like to hear from you experts.
Thanks!