Under the latest measures, developers are required to charge down payments of at least 30 percent, up from the previous minimum of 20 percent, according to the announcement.
Finally! A sensible policy to cool the heated housing market a little, coming from the mouth of a government official.
Too bad it's not anybody at the CMHC, but rather a member of the Chinese cabinet speaking.
My tongue is firmly in my cheek on this one, but I offer it up to elicit a chuckle out of anyone my age who's wondering how they're ever supposed to afford a house in this market.