Less Expensive Is Better – “So they’ll buy a less expensive home. Good. I consider that desirable.”

flaherty

“It will mean that some people will not buy into the market. It will also mean that some people will buy less into the market… so they’ll buy a less expensive home, or less expensive condominium. … Good! I consider that desirable.”
- Jim Flaherty, Canadian Minister of Finance, April 2012 news conference regarding mortgage condition tightening, as recapped on Global TV News, 18 Dec 2012 [hat-tip Greenhorn for the archived video clip]

Not less of a home, note, but a less expensive home.
This is, indeed, desirable.
- vreaa

2 responses to “Less Expensive Is Better – “So they’ll buy a less expensive home. Good. I consider that desirable.”

  1. It’s all about the FTB from the GOC

  2. The idea of price versus value went out the window with steady appreciation. Who cares about price when the appreciation makes up for any short fall in “value” every day. Each brick, or lump of stucco is a glistening jewel ready to ooze appreciation, social status and a future so bright that being humble is almost impossible. A classic mania that forgets to examine its foundations with its own rockstars and legions of groupies.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s