Comments on: Book reviews

By: AAReynolds

AAReynolds — Thu, 21 Aug 2008 15:36:50 +0000

How fortunate Canadians are to have someone like Garth who is willing to speak the truth.
I currently live and sell real estate in FL, I wish I could have been introduced to Garth’s books and blogs sooner.
We are currently dealing with the aftermath both in the industry and our local economies.
The silver lining has been that all of the quick-money Realtors and mortgage brokers are gone; strong and HONEST have survived and are here to help homeowners in need.
I enjoyed Garth’s most recent book and look forward to meeting him at our corporate convention in October!

By: DD

DD — Thu, 07 Aug 2008 02:39:39 +0000

#40 Brazer … where are you getting your info from?

By: DD

DD — Thu, 07 Aug 2008 02:37:58 +0000

Calgary:
Median July 2008 home prices $406,000
Median 2008 combine home income = $90,000
Home price / income = 4.5x
Banks lend at = 3.75x

Price will not go up anytime soon unless wages go up a lot. Prices might have to decrease (4.5 – 3.75)x$90,000 = $68,000 to come more into line.

By: brazer

brazer — Sun, 03 Aug 2008 16:17:41 +0000

pbrasseur, in the U.S.

- over 1M homeowners have already lost their houses
- 1M are 90 days past due on mortgages = foreclosure coming
- over 2M are 30 days past due on mortgages

that’s another 3M likely that will lose homes shortly, and couple that to another few million that will fall through the cracks in the next few years and you may be looking at 5M+ total homeowners (roughly 10% of all U.S. mortgages).

this is hardly going to be a walk in the park, and one needn’t be an alarmist for pointing this out.