Real estate blog entries tagged with canadian real estate market by Team 3000 Vancouver Richmond

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Home : Blogs : Team 3000 Vancouver Richmond : Richmond BC Real Estates : Tag "canadian real estate market"

canadian real estate market: The End For Canadian's 40 Years Mortgage? - 06/14/08 03:51 PM

Finance Minister Jim Flaherty recently suggested it might be wise to outlaw 40-year mortgages.
"A recent Statistics Canada study showed Canadians are finding themselves with two mortgages and deeper in debt than at any time in their lives. They are increasingly house poor, and with housing values sliding, they often owe more on their properties than they're worth.""People are incurring large mortgage, line-of-credit and credit-card debt as they spend on renovations and big-screen TVs. Older people are taking on mortgages due to divorce and to finance the home purchases of children unwilling to save for a realistic down payment."
High oil … (3 comments)

canadian real estate market: Panel of economists vote for an end to rate cuts - 06/11/08 01:36 PM

The following is a Financial Post article on Candaian interest rates as presented by a panel of economists:
A panel of nearly a dozen non-government economists Thursday urged the Bank of Canada not to go ahead with an expected further interest-rate cut Tuesday, with some members voting for a rate hike instead.Should the central bank follow that advice, it would rob Canadians with floating rate mortgages and other loans of hope for any interest rate relief until midsummer at least.The C.D. Howe Institute's Monetary Policy Council voted to recommend the central bank leave its trend-setting target rate for overnight loans at … (0 comments)

canadian real estate market: Canadian Real Estate Market News Articles: May 2008 - 06/05/08 09:09 PM

For the month of May 2008, the following real estate articles highlighted the real estate market scenes in Canada:

Economists sees no reason to worry
Immigration main driver behind frenzied activity
Survey: 56 more condos so far in '08
Economic Retreat Sparks Use Of R-Word
Westerners Look To Maritimes For Retirement
Prices slow as home listings hit new high
Better deals ahead expected for Canadian home buyers
Condo numbers hold steady
Super Size Me

… (0 comments)

canadian real estate market: Canadian Real Estate Market News Articles: April 2008 - 06/05/08 03:21 PM

Canadian Real Estate Market News Articles
For the month of April 2008, the following real estate articles highlighted the real estate market scenes in Canada:

Mortgage market enters 'uncharted waters': Scotiabank
Ottawa the place to live in Canada: MoneySense
Look back, look a long way back

Slide ends housing boom

… (0 comments)

canadian real estate market: 40 years Mortgage - 05/03/08 09:47 AM

Mortgage market enters 'uncharted waters': Scotiabank
Below is an abstract on a recent Financial Post article on 40 years mortgage and it's longterm implication to Canada's mortgage market. the
Liberalization of the Canadian mortgage-insurance market and the advent of 40-year amortizations are driving the housing market into "uncharted waters" with unknown risks, according to a Scotiabank report released Monday.
Longer-term amortizations now account for three-quarters of all monthly insured-mortgage applications, with the 40-year product accounting for half of that, the report said.
Click here to read the full report.
The excessive liquidity fueling the dot.com boom and burst in early 2000, … (0 comments)

canadian real estate market: Richmond Changing Skyline - 04/27/08 01:38 PM

Richmond changing skyline
The construction of the Light Rapid Transit System or SkyTrain connecting Richmond to the Airport and downtown Vancouver will forever change the once sleepy farming Richmond community into a modern City.
The City of Richmond is promoting the developments of higher density and multi-family deelopments along the Skytrain route around the city core.There are many young couples and first time home buyers who prefer living in Condos and within waliking distance from public transits and Skytrain stations.
Richmond Is a Young And Growing City
Richmond is accessible and has a good public transit system connecting Richmond to … (0 comments)

canadian real estate market: 40 Years Mortgage Fueling The Canadian Housing Market - 04/10/08 09:21 PM

Sky-high house prices are making home ownership less affordable to cash-strapped home buyers. Some economists and housing analysts are arguing that longer amortization is bad for home owners. The danger in stretching a 25-year mortgage to the 40 year CMHC mortgage is that it will hurt home buyers who in the first place cannot afford to buy their own homes. The program is a two-edged sword. Yes, the lower monthly mortgage payment enable home owners in buying their homes, but it will also likely become a huge financial burden to the home owners.
A recent article in the Toronto Star highlighted … (0 comments)

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