Seems that many are buying with less than 20% down and purchasing CMHC Insurance on the mortgage debt.
In its latest market report, Canada Mortgage and Housing Corporation stated that the number of rental housing units it insured grew by 35% annually during the quarter ending September 30, 2019.
“We’ve seen increased demand in rental housing, which remains an important housing solution for many Canadians. We have continued to provide support for this option through our commercial activities and National Housing Strategy initiatives,” CMHC chief financial officer Lisa Williams said. https://www.mortgagebrokernews.ca/news/insurance/cmhc-reports-notable-increase-in-the-number-of-insured-rental-homes-323420.aspx#.XeUdZZe_LB0.twitter
The market appears unabated...
What do you think?
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