Comment 52190

By mrjanitor (registered) | Posted November 24, 2010 at 23:34:43

Not saying home owners are a problem Meredith. I lived in Ward 3 and many of my neighbors were scrapping by and could not save any money to improve their houses. A loan or dollar for dollar grant might spur some investment and improvements.

I think the down-payment idea you bring up is worth considering. You are right when you say many who could afford a monthly mortgage payment can't afford to save the down-payment and are stuck in the renter's trap. I lost a good offer on my old house because CMHC turned down the young couple who wanted it, even though they had bank approval.

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