[quote user=bizaro86]
Would you support CMHC no longer insuring multi-family residential mortgages?
of course, as in essence they do not do that today over 65% LTV.
CMHC is a crown corporation that should be private. No need for it anymore.
In general I support smaller governments. The problem in Europe, Quebec, US and now Ontario (and possibly soon: BC) is entirely governments that are too big, i..e they spend too much for the revenue they generate, and the revenue is already at levels that cannot be increased as taxes are at the upper end, roughly 50% for high income earners plus CPP plus EI plus GST/VAT/HST of 12 to 27% (in Hungary). Canada is dangerously close to Europe, as seen in Quebec, recently in Ontario and likely soon in BC: higher taxes, bigger government, more regulations, stronger unions, higher debt, higher unemployment, falling real estate prices .. a chain of events in that order.
The welfare state designed over the last 50 years is imploding: taxes are too high, education systems take far too long, healthcare systems are strained, the state cannot be the be-all and end-all of all problems of society and bail out everyone for everything.
Insurance has always been private, in most instances, so why is mortgage insurance the governments business ? Surely regulations could be created so that private institutions (aka banks) can find a way that banks lend to first time home owners with less than 20% down, it does not have to be a crown corporation.
