Tuesday, May 30, 2006

You know you're in trouble when those guys are the voice of reason.

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.

No comments: