Comments on: More People Are Buying Toronto Real Estate That Shouldn’t, And Half Are At Risk of Defaulting

By: Greg

Greg — Wed, 03 May 2017 16:32:17 +0000

In reply to Yikes. when was the last time banks lent money at Multiple of your Income (which ignores Interest Rates) vs Payments (that include interest rates) right, Never.

By: Attention Turns To Toronto’s Subprime Debt Time Bomb Danielle Magazine

Attention Turns To Toronto’s Subprime Debt Time Bomb Danielle Magazine — Mon, 01 May 2017 14:44:46 +0000

[…] of Finance (MoF), high ratio mortgage borrowers are extending themselves to the limit. While we covered how concerning this trend has become in Toronto, it’s not just isolated to that city. It’s a trend that’s growing across all Canadian urban […]

By: Attention Turns To Toronto's Subprime Debt Time Bomb | StockTalk Journal

Attention Turns To Toronto's Subprime Debt Time Bomb | StockTalk Journal — Mon, 01 May 2017 14:15:55 +0000

By: Attention Turns To Toronto’s Subprime Debt Time Bomb | It's Not The Tea Party

Mon, 01 May 2017 14:04:33 +0000

By: Attention Turns To Toronto’s Subprime Debt Time Bomb | NewZSentinel

Attention Turns To Toronto’s Subprime Debt Time Bomb | NewZSentinel — Mon, 01 May 2017 13:59:22 +0000

By: Attention Turns To Toronto’s Subprime Debt Time Bomb – Independent News Media

Mon, 01 May 2017 13:41:51 +0000

By: P

Sun, 30 Apr 2017 00:23:16 +0000

and it is a pure lie scam and myth that the chinese are so rich “they just buy cash” my rear end they do, i know tons of chinese mortgage brokers and a few have specifically told me over drinks, ya, no, all chinese take out morgages and some high ratio and tell them to “not tell anyone in the community” to keep face and keep the market sentiment up to make ppl feel the market is solid because of “rich chinese” this is not true, 1 percent of the chinese buyers are rich the rest have just jumped on the band wagon and pretended they are and played the game in hopes of getting rich…this is going to end very badly as it should…….all cash my rear, if its all cash why are all pptys bought in van on title with mortgages on them! lying snakes……bubble bursts i guarantee you the chinese will be the first to default left right and center…. i went to van 4 months ago a chinese was askin 2.5 for a 40 frontage in point grey, it went for 1.65…lol….so much fake news……..btw trusting a a realtor is as good an idea as trusting a pedo with your child….all of them are lying rats…the whole lot of them….

By: P

Sun, 30 Apr 2017 00:15:30 +0000

ok first off the median household income in toronto is 90k. Less than 2 percent in ontario earn over 200k. a crap hole in a decent area is 1.2 million or 600% the income of the top 2% in the country, the median household income of residence owners and non in that area is 80k or almost 300% less! Please do remember these are all worthless GROSS income figures which mean nothing their net income as we reside in canada and not china and pay income tax, so it is more like 50K after paying income tax or 4k a month! Umm, a tear down at 1.2 million which will require renos, upkeep, rot, mold, plumbing leaks ect each year which costs 10 to 100k easy. Now even if you are in the top 2 percent of income earners in the country and go for 200k congratulations, you net 110 at best and you can buy a crappy home in a neighborhood where your neighbours earn 80k. must feel nice paying over a mil for a crappy house in an area where your neighbours and home owners are borderline poverty living . This is all because of Chinese Flippers 100 percent. Same crap in Vancouver, in east van the median income of households is 50k and you have to pay 1.3 for a crappy house, in a crappy neighbourhood and be in the top 2% of income earners in the country… This bubble will burst and badly, home trust just came out with all the scam loans its been giving out shares tanked 60%, BMO is bundeling mortgages and selling mortgage backed securities exactly what happened in 2005 in the us, median house hold debt to income is 170 it was 157 pre 2007 . Chinese are loosing interest and pulling money out and and 2017-2018 will be a massive drop in prices and no one will want to pay 1.2 for a crap house in a crap neighbourhood in toronto or vancouver which makes skid row look high end.. It is criminal what the govt in canada has done. You can go to LA where you feel like a boss and go to the hollywood hills high end buy an old house and live amongst ppl who are top and feel like you paid 1.2 million unlike the toronto and vancouver chinese raped housing market most of who are not citizens and have zero interest in living in canada or in the home and had just bought to flip for more the next year and on and on and on to create a massive bubble massive social problems for locals and then efff off……disgusting. This is all due to mainland and hong kong Chinese and the disgusting treasonous govt of Canada. Most of the chinese in vancouer who bought in the past 3 years have lost all their equity and not happy, try selling a house in west van or west side, listings over 3 mill have been sitting for 1 year and reduced anywhere from 400k to 4 million no buyers, chinese know their money will go bye bye if they buy and the ppl who put down 2 mil got a loan for 4… i knew lots and paid 6 at best can get 4 right now which means their 2 mil is gone bye bye sayonara…..also all the chinese builders on the west side who bought tear downs at 2 and built at cost of 500 to 900k hoping to sell for 3.5 and make 600 to 800 are now sitting with zero interest and lowering prices to 3.3 3.2 3.1 and getting offers in the mid 2s!! Not so nice one big boi….take ur money and efff off outta canada bye bye….the same exact thing is now happening in toronto this week and all the stupid price gains caused by CHINESE in the past 2 years will be earased…

By: Chase

Chase — Fri, 28 Apr 2017 23:37:18 +0000

Me thinks a lot of homeowners are sing their home as an easy ATM, in order to keep that ‘lifestyle’ goin’. A LOT of people are going to loose their homes…and ALL t/ money they lost in t/ gamble…of ever-increasing home prices….when there’s no/low paying jobs.? Get ready for this…not gonna be pretty! Oh, by-t/-bye, I have rented my room, shared house, for 8 yrs, inside t/ GTA, just outside of Toronto, for just $400/mth…all incl w/ HS internet. Deals are out there, but, few and FAR between!

By: Chase

Chase — Fri, 28 Apr 2017 23:26:22 +0000

In reply to Jeff. OK, what, 'other factors are more pressing'?