Comments on: The tipping point

By: Skeptic

Skeptic — Mon, 26 Jan 2009 16:18:49 +0000

My mistake, I somehow thought that those things took place in 2005 while they actually happened in 2006. Garth, no need for the derogatory “grow a set”, I don’t think we are in junior high anymore
On another note – when do you guys think buyers will actually realize that it’s not “coming back” any time soon and won’t expect asking price anymore (or asking – 1%)? Because the politicians know it, the realtors know it (although some of them are probably honestly deluding themselves that it’s OK), most of the buyers know it – how long can the sellers resist the inevitable? 3 months, 6 months, 1 year? I’m talking about GTA.

By: Skeptic

Skeptic — Mon, 26 Jan 2009 14:22:26 +0000

Garth,
I know you like to bash the conservatives, but as far as I remember, it was the liberal government that introduced the 40-year amortization and 0% downpayment. All that at a time when it was completely unnecessary and they also kept the interest rates artificially low when the economy was BOOMING!

The provision to allow those was contained in the 2006 Jim Flaherty budget. I was on the Finance Committee and demanded hearings into the possible consequences after raising concerns. This was 100% a Conservative initiative. Grow a set. — Garth

By: Republic of Western Canada

Republic of Western Canada — Sun, 25 Jan 2009 18:56:28 +0000

#119 North Vancouver Citizen – AMEN !

The root cause of the present financial meltdown was the greedy ‘entitlement’ mentality of too many anti-social, self-centered, married breeders.

(Note this only has to do with social irresponsibility, not any sort of sexual orientation).

Somehow common societies became infected with the attitude that massive debt and over-consumption of resources in suburbia was somehow justified, in a sick contest to get knocked up and squeeze out more pups quicker than their neighbors. That is the same undisciplined phenomenon of running out on the spur of the moment to buy shiploads of made-in-China junk, without really having a survival-based need for it. Then, when they’re unable to afford it and they start choking on overpopulation, they run whining to the ‘gubmit’ for tax breaks, subsidies for bigger houses, more roads, services etc – all paid for by the next guy, of course.

Both David Suzuki and now Ted Turner are right on the money, when they point out that the core of the world’s problems are due to massive overpopulation.

By: Accremonium

Accremonium — Sun, 25 Jan 2009 18:04:37 +0000

* Second, deficits today mean taxes tomorrow. After the temporary tax cuts in next Tuesday’s budget, you can kiss goodbye the idea of paying less, for a generation. Capital gains taxes will never come down, nor property taxes or provincial surtaxes. So if you’re not planning to aggressively mine every remaining tax shelter, make your mortgage tax-deductible or shield wealth, you lose.

So, Harper’s comment that the proposed tax cuts must be permanent, is his latest prevarication! He will run Canada into total utter bankruptcy, and financial collapse. So much for transparency and accountability by the jerk that brought you “grease spot political adverts” or is that perverts?

The best thing that Obama can do to bring some reality to Ottawahaha is rendition Omar Kadhr on the same flight and tell Pinocchio Nose to his face, “he is yours, you deal with him!”

By: mod monkey

mod monkey — Sun, 25 Jan 2009 16:10:36 +0000

Ted,

I live in the city of Toronto [district C02]. Realtors {when trying to sell a property} may call this neighbourhood Dovercourt Park or West Annex. My home is situated close to the Bloor subway station and steps from bust transit. Prices in Toronto and the GTA have increased over the last number of years, but not as substantially as Calgary and Vancouver. Even if prices continue to drop in Toronto we will stick it out as we have no intentions on selling our house. It may however make us consider dropping more of our savings into the principal of our mortgage amount, in the case that interest rates will increase in the future.

The house is about 90 years old and was last updated sometime in the 80′s, so it is by no standard renovated. However, the house is clean and well maintained and many people look for that.

We plan on eventually taking over the entire space, and renting out only our basement suite. We did not purchase this house as an investment property as so many people who bought houses did. We did keep in mind that a buying a house with a proper basement would be beneficial to keeping our mortgage payments quite low. At this time, we are simply renting out part of the house as we do not need all the space until we begin to expand our family.

Cheers!