Kari Gares

Mortgage Specialist with MHC Mortgage House. I help to support our local realtors, FPs, Builders, and Clients in securing Mortgage Financing.

[red pill rick @igetredpilled]

“[The Bank of Canada] is gonna make the same mistake twice in different directions”

“In the next 12 months [the Bank of Canada] will be cutting rates pretty aggressively no matter what the Fed does and the fallout will be on the Canadian dollar”

- David Rosenberg (May 2, 2024)

[Kari Gares @karigares]

@ronmortgageguy Some communities in BC have already made decisive policy changes to at least temper the housing crisis. Problem is…mass immigration works against us at all levels. Overly restrictive lending policies hinders people’s ability to enter the market.

[Kari Gares @karigares]

@ronmortgageguy Politicians (maybe not all) across Canada understand the housing crisis affects many facets of Canadian life. Suggesting no politician wants to see restored affordability is categorically false.

[Kari Gares @karigares]

@ronmortgageguy @TheHerleBurly @MikePMoffatt And I know there isn’t agreement on this but the attack on mortgage lending has caused a domino effect in the housing sector. We’ve effectively reduced the ease to which people could move up/down in the housing continuum. Translation: supply has been significantly reduced.

[Kari Gares @karigares]

@ronmortgageguy @TheHerleBurly @MikePMoffatt With BC’s new Housing Plan, there are serious implications for local governments that very few are talking about. You cannot quadruple density without considering the infrastructure and capacity impacts. Who’s paying for that?

[Kari Gares @karigares]

@ronmortgageguy @mortimer_1 Our Council took years to determine where we would like to see STRs and where they would not be appropriate. Resort areas are not good places for long term rentals to exist. A one size for all mentality is the wrong approach.

[Kari Gares @karigares]

@ronmortgageguy @mortimer_1 I disagree. STRs do serve a purpose in many communities so a straight across ban will not fix the issue. It’s important to keep in mind that no two communities are alike. Local government should retain autonomy over their community.

[Kari Gares @karigares]

@ronmortgageguy It goes well beyond immigration - sadly. I believe the huge influx of immigration has compounded the problem but it alone isn’t the problem. Why aren’t we looking at the years of increased govt policy for the answer?

[Kari Gares @karigares]

@ewsiddall @WorldBank When are we going to start to look at the real debt problem? The massive amounts of unsecured credit, 7 year car loans, and do not pay plans that are leaving many Canadians broke. Stop blaming brokers for the issue of over-indebtedness Canadians are experiencing.

[Kari Gares @karigares]

The Latest in Mortgage News: New Data on Financial Distress in Canada - Mortgage Rates & Mortgage Broker News in Canada https://t.co/Le9pmLHUPU

[Kari Gares @karigares]

Still not sold on the “new home equity share program” the Liberals will launch this fall. What are your thoughts? https://t.co/a0lQcHUlmg

[Kari Gares @karigares]

Tips on how to improve your bruised credit after a financial crisis such as a consumer proposal or bankruptcy. Improving your credit score should be top priority so that Banks will look at you... https://t.co/zbXbcAER9Z

[Kari Gares @karigares]

Understanding the #2019FederalBudget and how it’s trying to help #FirstTimeBuyers. I’m not sold on this program. Have your say - make a comment below:

https://t.co/n4JEElONIe https://t.co/n4JEElONIe

[Kari Gares @karigares]

Interesting factoid...Canada’s average rate of mortgage arrears in 2018 is .24%. As we entered the 2008 Global recession, Canada was hovering just above .26% with an uptick to... https://t.co/A5bpq5Bs2l

[Kari Gares @karigares]

Home ownership is a first step for many. It provides shelter, opportunity and an established base in creating long term wealth. If the Government of the day is concerned about consumer... https://t.co/PawIJNaTqd

[Kari Gares @karigares]

Do you think the... https://t.co/Becvvg280v

[Kari Gares @karigares]

Some changes may be on the horizon. March 19 Federal Budget will be released.

#MortgageMechanics #StressTest #Construction #AffordableHousing #BuildingStarts https://t.co/JnJhWM3eM1

[Kari Gares @karigares]

It’s easy to get cold feet when investing in the market but understanding your own time horizon will limit the risk.

#Investing #BullMarket https://t.co/F65x1yn781

[Kari Gares @karigares]

BoC maintains interest rate. https://t.co/44CPXM9JNB

[Kari Gares @karigares]

“Business investment is down 22%, the lowest since 2014.” Prediction: BoC will need to hold rates until further data becomes available. The Federal Government may have no choice but to add a... https://t.co/s8VrxHyzrU