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RRSP limits on down payments face Canadian caution
A Canadian policy proposal to use RRSP funds for first time home purchases drew US attention in the State of the Union debate. Critics warn it would erode retirement savings, set dangerous precedents, and benefit only a small minority of buyers while harming long term growth. Mr. Mardon of Investors Group notes no down payment option may better assist buyers without touching RRSPs.
MENTIONED IN THIS ARTICLE
U.S
Congress
George Bush
Canadian Real Estate Association
Canada
CREA
Ottawa
Central Mortgage and Housing Corporation
Mardon
Investors Group Inc
Financial Services Company