Ehsan talks about the informal announcement of possible further lending restrictions in the near future. The
"Big Six" are in talks with the Federal Government about introducing possible restrictions on
amortization periods and
down payments for
mortgages. It is possible that we may see a maximum
30 year amortization and minimum 10% down payment requirements in order to prevent a "boom and bust" cycle like the one witness in the U.S. HST, post Olympic ramifications, lending restrictions, and increased interest rates could all lead to a harder market to BUY and SELL over the next few years. Further proving that it is a good time for BOTH
BUYERS & SELLERS.
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