Comments on: The Ontario Teachers’ Pension Just Bought Canada’s Largest Reverse Mortgage Lender

By: P Rayburn

P Rayburn — Sat, 25 Sep 2021 17:52:31 +0000

I think there just needs to be more education. These reverse mortgages play on the emotions of seniors. Let you stay in your oversized family home that you probably raised your family in. Now here is an instrument that allows you to make a terrible decision out of emotional attachment to that home. The wise thing to do would be to downsize now that your family has moved on. Put that equity to work instead of paying interest on it. You can move into something with lower maintenance and operating costs. It is a perfect storm though with house prices having ridden on the gravy train of artificially low interest rates and significant increased values resulted over the prior several years. Staying invested in the real estate market has paid off but borrowing more to invest further into an inflated market at this time should not be a decision taken lightly. Maybe its time to get out not dug in further.

By: D

Fri, 24 Sep 2021 04:52:59 +0000

In reply to Dar Robbins. >This fifty year inflation super-cycle started with that SOB Nixon on August 15, 1971 and perpetuated by both the all central bankers and politicians since. You’re right on that. Both our dollar and the American dollar and every currency has lost so much value since the removal of the gold standard.

By: Dar Robbins

Dar Robbins — Thu, 23 Sep 2021 19:32:52 +0000

In reply to D.

Hi D, I’m one of the latter boomers and totally agree with you.
Negative interests rates are immoral, prevent savings and abnormally inflate asset prices.
Millennials and Zoomers have been thrown under the bus.
This fifty year inflation super-cycle started with that SOB Nixon on August 15, 1971 and perpetuated by both the all central bankers and politicians since.

By: Dar Robbins

Dar Robbins — Thu, 23 Sep 2021 18:20:38 +0000

Reverse mortgages are the Money Mart of financial products.
They target cash poor clients with high interest rates and exacerbate the housing affordability issues by keeping home off the market which would otherwise increase the real-estate inventory.

By: D

Thu, 23 Sep 2021 17:43:32 +0000

Boomers will be left holding the bag. Reverse mortgages are SCAMS and I’m disgusted with Tom selleck shilling rm’s to gullible boomers and promising them it isn’t a trick, yes it is Tom.

But that’s their fault for being naive. Interest rates have nowhere to go but up. Either way you look at it the economy is going to tank at both pendeleum ends….negative interest rates equals high inflation which will destroy our dollar, sure we might pay off our debt but we’ll be poor for 2-3 generations. On the other hand high interest rates will benefit the young and screw the boomers, I don’t see a problem with this but we’ll still be poor. The (S)elected politicians whom are the worst gangsters have led this country to the dumpyard and destroyed hopes for all us X’ers, millennials and zoomers.