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LETTER: No government help with downpayment in 1970s

Federal government, buyers of million-dollar homes have mishandled money in low interest rate era, letter-writer says
2022-05-17 typing pexels-donatello-trisolino-1375261
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PelhamToday received the following Letter to the Editor on current federal government policies.

Nobody helped me to buy my first home from someone else's investment income!  In 1973, first mortgage at 8-3/4 percent making $4.50 an hour.

Meagre interest rates have caused huge debt problems for ordinary Canadians and the Fed deficit interest has ballooned. Why do you think redistributing wealth is fair when some "numbskull" went out and bought a million-dollar house with a very low down payment. Not my fault or anybody else who can't handle money.

Why don't you MPs admit you mishandled the economy instead of trying to penalize "Joe Taxpayer"?

Peter Voss
Welland