Comments on: IMF: 25% chance of global recession

By: disbelief

disbelief — Sat, 12 Apr 2008 08:19:36 +0000

So the mortgage brokers have been a major player in the run up in RE prices in Van... He explained to me that there are so many applications that they can't possibly check them the way they should... "Get in and you will gain equity fast"

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By: Drachen

Drachen — Fri, 11 Apr 2008 07:41:22 +0000

"Hopefully our government won’t bail out the babies after the bottom falls out…" I suspect it will be the people who filed fraudulent mortgage applications who cry the loudest. Personally I hope the government has a full investigation and makes those people realize that they were committing a serious crime and in some instances (those with multiple cases) they should see the inside of a jail. "honest mortgage broker" Don't use those words around a computer in Vancouver! It's logic circuits might explode.

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By: disbelief

disbelief — Thu, 10 Apr 2008 15:18:51 +0000

We need to need to hear from an honest mortgage broker on how they are fudging the numbers to allow for these huge mortgages they are not fundamental. This is what is leading to the meltdown in the US and the bubble we are currently experiencing. I have a story that my mortgage broker told me... I was unemployed and did have 25% to put down on an E van home but no income other than EI. He said no prolem we can say your self employed and they probably won't even ask for any info. If they do I will help you abtain some documents.

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By: disbelief

disbelief — Thu, 10 Apr 2008 14:54:41 +0000

Hopefully our government won't bail out the babies after the bottom falls out...

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By: Jack T

Jack T — Thu, 10 Apr 2008 12:16:58 +0000

I have no love in my heart for the various salespeople that have pumped up this market, but in the end I believe there's only one person to blame: the buyers. These are the people that will get burned in the crash, just as it should be.

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By: Tony Danza

Tony Danza — Thu, 10 Apr 2008 12:01:18 +0000

Dream on. I just thought it would be fun, hence the plea for a pro bono legal team.

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By: patriotz

patriotz — Thu, 10 Apr 2008 11:52:07 +0000

I would love to launch a class action lawsuit against this POS when things come tumbling down in Vancouver. Dream on. None of the dot-com cheerleaders were ever successfully sued either in Canada or the US, and these were people who were actually employed by the securities industry and had some legally defined responsibilities, not some radio talk jockey. Remember also that realtors are fiduciaries of the seller, not the buyer (always), so don't expect anyone to get a pound of flesh from them either.

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By: ProblemBear

ProblemBear — Thu, 10 Apr 2008 11:44:19 +0000

Somebody should give Bill Good a kleenex so he can wipe his face off!

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By: Anonymous

Anonymous — Thu, 10 Apr 2008 11:27:29 +0000

Me, For sale signs are on back order. Please be patient, it's coming.

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By: Warren

Warren — Thu, 10 Apr 2008 10:33:25 +0000

Sorry my US/Canada growth forecasts are for 2008.

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