The "Hey, we were Only Kidding" Mortgage icecube and other patetic HCG bagholders, remember this picture snapped a few weeks ago, which was then published here on
this pathetic thread?
Sure you do. It was those fun bankers advertising the fact they’re happy to give out residential mortgages to foreign students (and other non-nationals) so long as they have a chunky 35% down payment. And no income verification required. Honest.
Well, not any more. After pressure was applied to the feds, and Minister Morneau made a few phone calls, the banks are taking it all back. “We’re pleased,” he told reporters on Monday, “that they are taking a look at the risks that they have in the market and taking action that they think is appropriate.” So add it up – fat taxes on non-Canadians buying property here, an abrupt reversal on long-standing lending practices to foreigners, and now a tax in Vancouver on people who buy homes and don’t occupy them. Gasbag, meet pricks.