The new mortgage rules apply to homes over $500,000. A buyer will have to put down 10 percent of the price as a down payment. It’s potentially a lot of money but similar down payments are not unknown in Canada. In the 1970s and 80s, another time of fast growth, a home priced at $200,000 typically required a down payment of 25 percent, or $50,000. It didn’t stop homes from soaring in value. This was shot in Leaside by the way.
