Comments on: Canadian Mortgages Get New Guidelines After Mass Risks Materialize

By: Mac

Mac — Sun, 16 Jul 2023 21:52:32 +0000

In reply to Stu. I came to the comments section to say this same thing.

By: Lou

Lou — Sat, 15 Jul 2023 12:52:56 +0000

Shorter-term lending (as opposed to U.S.) contributed this main impact. Consumers and investors (both cut under amortizating extension). Wonder now how can housing prices go down (and availability) with these measures where interest carriage cost twice in time alone not including higher interest cost? Erodding the value from within (while maintaining the system and banks). The ultimate bubble is 2 systems (Can. USA) 1 measures (rates).

By: Hugh

Hugh — Fri, 14 Jul 2023 08:08:28 +0000

Why are there so few houses on the market?

By: Gord

Gord — Thu, 13 Jul 2023 00:34:27 +0000

The FCAC guidelines put in the last Liberal budget suggest help for distressed principle owners not ‘investors’. It is near sighted by the Liberals to prop up house prices by trying to prevent a collapse that is inevitable due to the unsustainable debt of the distressed mortgage holders. These actions only prolong the time 50+% of Canadians who cannot qualify for a mortgage to even buy a small condo, have to wait, renting in this inflated market. Let the natural course of the markets correct.

By: Gordon

Gordon — Wed, 12 Jul 2023 23:58:30 +0000

The FCAC guidelines are directed at principle resident holders only. How can the banks be extending amortizations to ‘investors’ as well? This can only bode poorly for the banks as well as the people still in the FOMO psyche! It would be very enlightening to have you investigate this issue. The Liberal budget directing the FCAC to save distressed mortgage holders is short sighted, maintaing home prices above what 50+% of Canadians can afford to help out the ‘investor’, maybe themselves.

By: Bob Vila

Bob Vila — Wed, 12 Jul 2023 16:40:25 +0000

What I don’t understand is the distinction between the ‘consumer’ who has an existing mortgage and the ‘consumer’ who is buying a new mortgage as a first-time homebuyer lets say. The FCAC protects the former group and requires banks to offer a benefit for them while regulations ban the other group from taking the same consumer benefit. We are all consumers of mortgages. One group can have a 90 year amortization, the other group cannot. I’ll take one at this point to be able to afford a home at these prices. I’ll be long dead before I pay it off, but I’ll live well with the much lower payment, and my children won’t have to pay it off either in Canada.

By: Sergio

Sergio — Wed, 12 Jul 2023 04:49:15 +0000

“Law is the will of the ruling class, elevated to law and enforced by state mechanisms.” Lenin.

By: J

Wed, 12 Jul 2023 02:00:40 +0000

In reply to C G.

All levels of governments have political and financial gain to keep households biggest asset high to court votes.

No one wants the responsibly of popping the bubble. So they do the opposite and kick the can down the road.

They’re so reliant (addicted) on foreign cash for paper GDP growth. Money corrupts with the level of privacy of Canadian LLCs snow washing the world’s illicit cash.

Sad state of affairs.

By: Iron Bibby

Iron Bibby — Wed, 12 Jul 2023 00:30:39 +0000

Canada is DEDICATED to protecting real estate valuations at all costs

It’s all Canada has

By: Lai Chen

Lai Chen — Tue, 11 Jul 2023 16:13:24 +0000

In reply to Stu. It's less about helping investors directly, and more about creating liquidity so it's not trapped via the assistance. The US did it to avoid the crash in 2001, and it helped create the crash in 2006.