Garry Marr: Shared home ownership was a feel-good trend. Now some are paying a big price

1 month ago 6

Rommie Analytics

While not everybody is turning away from shared ownership, as lower prices provide some with a better entry point to the market, it can quickly go awry when lives change and someone wants to move or sell.

Rising housing prices made for great stories about sharing ownership with friends and family, but as prices have collapsed, in some cases wiping out the equity entirely, fingers are being pointed.

The pointing is coming from lenders and it’s aimed at anyone on the title and named on the mortgage who has assets — or a job — in Canada.

“The bank...

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