Comments on: Ontario’s Late Mortgages Are Now At The Same Level Before The 1990 Crash

By: Why a low delinquency rate isn't the good news real estate story you think • realestate.10ztalk.com

Thu, 22 Feb 2018 00:00:43 +0000

[…] bubble was at its frothiest and money was easy to borrow. Likewise, mortgage arrears in Ontario just reached their lowest level since 1990, the year Toronto’s last housing bubble popped. In that real estate crash, prices fell close […]

By: Why a low delinquency rate isn’t the good news real estate story you think | Amrank Real Estate

Tue, 12 Dec 2017 06:41:53 +0000

By: Dan

Dan — Fri, 21 Jul 2017 05:03:06 +0000

I don’t think there is any correlation between lowest number of missed payments and bubble burst. In any growing market the number of defaults will keep decreasing (and this would happen irrespective whether it’s slow growth of 5% or bubbly growth of 30%). We could have reached the same percentage of missed payments as long as there is steady growth…
The reason why there was a sudden increase in missed payments in 1990 is because of sudden jump of interest rates to 19%. People could not afford to buy, no one could sell and at the same time all variable rate mortgages sky-rocketed (so people could no longer afford monthly payments).

By: Allen

Allen — Fri, 21 Jul 2017 00:57:25 +0000

@Ahmed. But the wage increases will happen soon. Ontario going $15 and hour. Other provinces will surely follow. Pretty sure we will have a 4.5CPI sooner than we think.

By: Ahmed

Ahmed — Thu, 20 Jul 2017 15:46:04 +0000

Haha, Dan! Don’t give anyone a slice of hope, it’s obvious that people in Canada aren’t seeing a huge increase in pay. This thing’s going to come tumbling down any day now.

By: Mike K.

Mike K. — Thu, 20 Jul 2017 14:41:53 +0000

Great article, you guys are really nailing this.