Comments on: Mortgage crisis spreads beyond sub-prime

By: Toronto neighbourhoods

Toronto neighbourhoods — Sun, 24 Feb 2008 17:18:24 +0000

It is without doubts that our local economy is affected by the US. It has to be. They are our neighbour and our largest trading partner. As you mentioned in your article “Eighty-five percent of Canadian exports are destined for the US and about fifty-nine percent of its imports come from the US”, so that’s quite an influence. I am not as familiar with the situation in Vancouver as you are, but here in Toronto neighbourhoods it looks probably similar. Some brokers used predatory lending to sell to people thet were not good candiates for mortgages, appraisals were over inflated to close on home, and resale values fell. Easy.

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By: Anonymous

Anonymous — Thu, 14 Feb 2008 17:08:52 +0000

“The outlook for the economy has worsened in recent months, and the downside risks to growth have increased,” Bernanke told the committee. “To date, the largest economic effects of the financial turmoil appear to have been on the housing market, which, as you know, has deteriorated significantly over the past two years or so.” Bernanke also said that the “virtual shutdown” of the market for subprime mortgages — given to people with blemished credit histories or low incomes — and a reluctance by skittish lenders to make “jumbo” home loans exceeding $417,000 have aggravated problems in the housing market.

I’m sure that lenders don’t have a problem lending large amounts to people that can pay it back. I suspect they just don’t want to give jumbo loans to deeply in debt people earning $35k a year so they can buy speculative overvalued property. Whats wrong with that picture?

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By: Mold City

Mold City — Thu, 14 Feb 2008 17:04:48 +0000

Forgot the link to the full story:

http://www.msnbc.msn.com/id/23164148/

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By: Mold City

Mold City — Thu, 14 Feb 2008 17:04:23 +0000

Federal Reserve Chairman Ben Bernanke told Congress Thursday that the country’s economic outlook has deteriorated and signaled that the central bank is ready to keep on lowering a key interest rate — as needed — to shore things up.

If stupidity got us into this mess, why can’t it get us out?

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By: Re-diculous

Re-diculous — Thu, 14 Feb 2008 16:17:11 +0000

Some better RE value perhaps?

http://www.ushomeauction.com/a.....ration.php

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By: Michael Randallbard

Michael Randallbard — Thu, 14 Feb 2008 05:51:04 +0000

“I was driving by broadway and cambie I saw road block and a seen of recent explosion at 686 WB”

Keep trying….if you try and try again (your suicide bombing stunt) you will succeed one day. We are standing behind you….way behind you.

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By: patriotz

patriotz — Thu, 14 Feb 2008 03:01:39 +0000

Wrong. RE prices are determined by the buyer, not the seller. What the seller thinks their house is worth is irrelevant.

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By: scullboy

scullboy — Thu, 14 Feb 2008 01:10:44 +0000

Whoops, that’s STFU. Hey, this is fun! Why bother replying to a helmet wearing ‘tard? Only one response will do:

STFU!

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By: scullboy

scullboy — Thu, 14 Feb 2008 01:09:40 +0000

Hey Krrish

SFTU.

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By: Krissh1

Krissh1 — Thu, 14 Feb 2008 00:50:59 +0000

Ohh Krissh, how clever of you to post as an anonymous poster.

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By: Anonymous

Anonymous — Thu, 14 Feb 2008 00:42:34 +0000

Tony,Btk,Scullboy,

you guys are annoying dog barking if you don’t get it read the brand new post from the pope.You guys should post your opinion on related topics do not make this thread boring.

“Anyone here reading from NJ or NY”?-Tony
“Why do you ask”?-Scullboy

“Krissh1, you have never responded to anything”.-Bdk

krrish1
2008-02-07 18:14:03
but we have our own Canadian cities- we are not American cities those are victim of Natural Disaster,Threats,Subprime Mess,Gambling Addiction,and Field Wars.

No, since the wisemens are coming to know that they are drinking recycling water from glycol recovery shhhs those are running to buy in Vancouver B.C.

California stink with smell of marlboro and industrial gases now it’s right time for them to buy here.

bdk?Hello? and also check the link from MS kids on the fresh post,you guys refuse to believe,reject the truth too often don’t ya?

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By: bdk

bdk — Thu, 14 Feb 2008 00:21:36 +0000

I third that SHUT THE F^CK UP KRISSH

*Krissh is too stupid to understand abbreviations.

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By: scullboy

scullboy — Thu, 14 Feb 2008 00:16:03 +0000

I second that. Krrish, STFU.

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By: scullboy

scullboy — Thu, 14 Feb 2008 00:14:27 +0000

I think this whole mentality is part of the problem. “Our house should be worth 600K because we say so.”

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By: Tony Danza

Tony Danza — Wed, 13 Feb 2008 23:31:54 +0000

STFU

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By: jesse

jesse — Wed, 13 Feb 2008 22:19:10 +0000

Yes, only up to $250K though.

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By: btk new name bkd

btk new name bkd — Wed, 13 Feb 2008 22:15:30 +0000

Krissh1, you have never responded to anything.
You have written a bunch of borderline retarded regurgitated sales pitches with the occasional rap and incoherent tales about “wisemans”.

Imagine going into a Hyundai Dealership and the car salesman telling you that the Hyundai was as good as a Porsche, would you repeat this as truth? Would you then pay the same price for a Hyundai as a Porsce and start rambling incoherently on blogs about your “Porsche like” car?

So why would you, or the otehr troll on here, believe Vancouver is anywhere near the same league as New York? Because a realtor told you?

Has it occurred to you that realtors make commission off of sales?

What is it you do that makes you think you know anything?

You’ve never said anything that indicates you’re more than 12 years old.

Drachen, you’re right about the nickname. I’ve been watching too much Dexter..
I never intended to get into posting for more than a day but wanted to identify myself in case I was to reply and I think people posting under “anonymous” aren’t playing fair.
I never posted in a forum before but was driven to posting after reading ridiculously ignorant and repetitious postings from Trolls like Satv/Krissh and Dosh.

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By: krrish1

krrish1 — Wed, 13 Feb 2008 20:14:26 +0000

most recently I had respond to BTK about California here is full video which cover some problem and the rest, I will provide some link to recycling water from Glycol Recovery in California,this recent documentary cover the problem of water and industrial green house gas emission.
Ok here we got some thing to WATCH http://www.cbc.ca/national/blo.....dry_1.html

Crabman,btk,sofia and to whom else it may concern………

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By: krrish1

krrish1 — Wed, 13 Feb 2008 20:13:05 +0000

TONY,
Is that related to housing sector?why don’t you post your opinion regarding the topics even your first comment was not making any sense on this board are you alright?.

I was driving by broadway and cambie I saw road block and a seen of recent explosion at 686 WB some matterial from above residential units were down under to commercial units of Starbucks and Taco time here is the story:
http://www.cbc.ca/canada/briti.....blast.html

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By: patriotz

patriotz — Wed, 13 Feb 2008 20:09:31 +0000

That used to be the law, but it was changed a few years ago to make gains tax free if the property was owned for 2 years, without further conditions. This is regarded as one of the facilitators of the current bubble on HBB and elsewhere.

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By: Tony Danza

Tony Danza — Wed, 13 Feb 2008 19:46:33 +0000

My brother in law is a crane operator on a major condo project in town, he grossed just over six figures last year, but he also worked 65+ hours/week. However, I’m sure that people never lie on their rental applications.

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By: Tony Danza

Tony Danza — Wed, 13 Feb 2008 19:43:57 +0000

Krishh STFU, please.

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By: jesse

jesse — Wed, 13 Feb 2008 19:43:06 +0000

A relative of mine was trying to rent a condo downtown and received applications from construction workers claiming to earn six figures. It didn’t make sense but maybe we’re just in the wrong business.

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By: krrish1

krrish1 — Wed, 13 Feb 2008 19:32:30 +0000

except, I don’t know
yep SOFIA you don’t know why right?

a desperate attempt to cover their losses?

yes from subprime mess in the usa.

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By: scullboy

scullboy — Wed, 13 Feb 2008 18:35:13 +0000

Yeah Canada is free of the mess, except, I don’t know… CIBC who had to drop their share price in a desperate attempt to cover their losses…..

Dolt.

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