Comments on: The plunge

By: Republic_of_Western_Canada

Republic_of_Western_Canada — Tue, 14 Jul 2009 20:49:33 +0000

#86 AppleCrunch -

An Ontario resident’s dream! Just outside of Toronto within easy commuting distance, on a huge lot with wood heating, it has both municipal water AND windows.

Apparently the ground is soft and fertile enough to dig and work for agriculture and other purposes, too!

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By: Bluefood

Bluefood — Mon, 13 Jul 2009 21:05:07 +0000

Wonder what is driving these markets? Have a read of the attached article, it’s US specific, but I can tell you as a banker, we in Canada are very much engaged in the same practice…..enjoy!

http://market-ticker.denninger.net/archives/1208-Mr.-Nocera-And-Regulators-WAKE-UP!.html

By: AppleCrunch

AppleCrunch — Mon, 13 Jul 2009 20:18:58 +0000

Looking for a hot property?

Check this one out… It is a steal:

http://www.realtor.ca/propertyDetails.aspx?&propertyId=8497845

By: ottawa pete

ottawa pete — Mon, 13 Jul 2009 15:43:54 +0000

bigpictureguy:

Dude. I always have and always will….I sold over a year ago at the local peak in my price range I simply thought you and others on this blog would find the information on securitization of home equity interesting especially as it would allow homeowners who have equity (according to appraisals) to diversify. They could also squander the money if they wish, but at least they wouldn’t be paying interest…

By: Mike (Authentic)

Mike (Authentic) — Mon, 13 Jul 2009 08:21:34 +0000

#57 Barb ” The major population centres keep attracting the crowds — despite the wonderful rural places to live around there. (But just look at London, England, isn’t it the same thing, so many people want to live in the bustling big city.)”

Hold the phone. I’m living in that London, UK city right now and let me tell you first hand, you don’t want your city to be a “world class city”. It’s overly expensive for everything, overly populated (think PNE/CNE exibition walking ALL year round) and M25/London downtown traffic (4 hour rush hours!), don’t get me started on that. Also there is no where to go to get away from the people/madness of the whole lot.

Who wants all that? Fun for a couple months then you feel like you are just ratting the cage.

FYI, I’m a inner-city loving, living person back in Canada.

Mike

By: Across The Fence

Across The Fence — Mon, 13 Jul 2009 03:45:48 +0000

. If they dont get the unemployment numbers to reverse soon a depression will result, it is totally unavoidable. This fall the first of this cohort runs out of unemployment insurance and after that 600 000 American men will become destitute and desperate EVERY THIRTY DAYS. 5 years from now you may not recognize the USA. They allowed the private sector to create money. The founding fathers where adamant that only Congress should ever have that power. They knew 200 years ago what is happening now would be the result if you let the clever greedy men control the ability to create money.
Oh by the way, the price of gold will fall. Every one has predicted gold to go to the moon as a result of what is happening. Not so sure on that.
Gold may be hopelessly over valued in dollar terms now. In real terms you can buy twice as much American housing with the same amount of gold as you could 2 years ago. Three times as much in oil, 10 times in nickel, 4 times in copper and about 1000 times more in Baltic Dry Shipping.

By: bigpictureguy

bigpictureguy — Mon, 13 Jul 2009 03:08:28 +0000

Ottawa Pete

Dude. The point of the article is futures index in Canada is forecasting a 20% drop and with no end in site in terms of a recovery. Ignore the lame azz economists of CREA, Developers and Banks

By: aaron

aaron — Mon, 13 Jul 2009 02:52:01 +0000

Great advice I would make one recommendation on
(2) Go weekly.

If monthly payments are $1,000 or $12,000 per year
Then weekly payments are $250 or $13,000 per year

The savings of paying weekly are due solely to the extra $1,000 paid per year. To achieve the same savings with a monthly payment simply increase your payments to $1,083 or $13,000 per year. It’s as simple as that.

The best advice is to always match your mortgage payment to your pay schedule.

Matching payments to pay cheques minimizes the chance of missed payments and ensures you get the lowest possible renewal rate.

If anyone one is curious please feel free to try it out and post your results.

Thanks

By: Nostradamus jr.

Nostradamus jr. — Mon, 13 Jul 2009 02:34:19 +0000

Onemorething (aka DaHKkid)

…Why don’t you post some Deep Cove, North Vancouver pictures of this neighbourhood where you are staying.

This will allow posters on this blog to make up their own minds rather than your assessment, I mean jealousy.

By: ottawa pete

ottawa pete — Sun, 12 Jul 2009 23:53:55 +0000

bigpictureguy:

It seems a similar house price derivative market was implemented in Australia as well back in 2007:

http://www.rismark.com.au/pdf/The%20Australian%20February%202007.pdf