@cafreeland@JustinTrudeau Rent and Mortgage costs are still far too high because rates have increased by 400%-500%.
More supply is always good but these recent (past 2 years) rent and Mortgage cost increases, are a result of the rapidly rising rates. Especially here in SK.
@ronmortgageguy@mortgagejake Well said Ron. @mortgagejake and I met battling online which quickly turned into a handful of friendly conversations that I now feel lucky to have had. He was insanely passionate about Mortgages, kind and generous. A massive loss to the industry, one of the best that ever did it.
@ScottTerrioHMA Negative equity rolled into a vehicle purchase, credit card balances that drown you in interest alone all while setting up a 2nd Mortgage at a ~20% interest.
There are many lessons in these examples but it seems silly to blame Real Estate alone.
We have 3 kids, said kids love @TheWiggles . It's a great kids show, but there is zero chance this dude is sober in any episode. And when you watch it this way, its also an A+ comedy.
@FPExecEditor I am alarmed with your headline. The article actually states 10%-20% of mortgages UNDER DEFERRAL are a higher risk of default. Not all Canadian Mortgages.
@RyanBoughen@mortgagejake@ewsiddall 100%, and all along the way they have stripped nearly all the equity (4% fee on a 5% down mortgage) of nearly every first time buyer. Picture a man who profits, off stealing ~80% equity right out of the gate then points at everyone else for being the "bad guy".
@RyanBoughen@ewsiddall @GenworthCanada @CMHC_ca Haha agreed. There's a reason most banks already sent most of their business to GE and CG. They were/are easier to deal with.
But... Evan has to know this, there's only 3 companies in this space. Come on Evan, keep up bud!! :)
@ronmortgageguy@ewsiddall You bet, if that's the case.
But not every case is "I'm going to pay you zero rent, declare bankruptcy (so you can't collect ever) and move out, unless you subsidize my rent"