Comments on: Canadian Mortgage Payments Are Consuming A Record Share of Income

By: Credit Guy

Credit Guy — Thu, 15 Dec 2022 02:40:49 +0000

In reply to Mortgage Guy. This is going to get a lot worse. B lenders are loosening there guidelines. 60/60 GDS/TDS and non stress tested products with 35 year and 40 year amortizations are readily available and there is huge demand for it. It seems like people are willing to stretch themselves financially and are betting that the BOC will Pivot in a year and start slashing rates. At the end of the 1 year term they hope that they will be refinancing into an "A" (Prime lending) mortgage.

By: omasare

omasare — Thu, 15 Dec 2022 00:59:59 +0000

all that money that could have gone into real businesses…

Canada is pathetic

By: 500.000

500.000 — Wed, 14 Dec 2022 23:07:32 +0000

Don’t worry Trudope’s 500,000 a year will keep the ponzi scheme going. I am in my 50s, have been diagnosed with cancer, and I haven’t had a family doctor for over a year now because he retired due to age and illness.

I don’t know what Trudope plans to do with the influx other than getting more rent and wage serfs to make him and his family richer.

By: RW

RW — Wed, 14 Dec 2022 18:14:14 +0000

The 3.5th turning. No one’s really running around in the street or anything, but we as a society have begun eating each other and leading to a slow collapse.

By: Olivia

Olivia — Wed, 14 Dec 2022 18:12:52 +0000

Seeing prices rise is also a problem here. There’s a reason that fraud rises when prices do, and that’s people don’t risk, they only see reward. It’s not an issue of what happens if this doesn’t work out, but what happens if my neighbor does it and I don’t.

It’s unfortunate we don’t foster this kind of spirit with entrepreneurship. No one wants to start a business in Canada, because it’s too risky. They’d rather buy a $1 million condo that calls a hotplate a kitchen, where there’s no risk *WINK*

By: Michael Tran

Michael Tran — Wed, 14 Dec 2022 18:10:08 +0000

In reply to Mortgage Guy. Name and shame. I'd love to know if its our favorite elected official with 8 investment properties.

By: Trader Jim

Trader Jim — Wed, 14 Dec 2022 18:09:14 +0000

In reply to Tommy. Would depend on the income growth over the same period tbh. No easy way without a full model with a lot of variables if I'm understanding your question correctly.

By: Asif

Asif — Wed, 14 Dec 2022 18:08:07 +0000

Interest is just the banks being greedy. It’s not a problem to give principals to sellers and help them with income, but the banks already make so much and they want more.

By: Tommy

Tommy — Wed, 14 Dec 2022 18:07:00 +0000

There’s maybe 40% of mortgages left to exposure of higher interest rates, so is it fair to say this will lead to a MDSR of 7-8%?

By: Mortgage Guy

Mortgage Guy — Wed, 14 Dec 2022 18:05:46 +0000

When politicians have private mortgages with 50%+ DSR, you know we’re riding this one right into the flames.