Imagine if your sister in ad is a con artist the new owner will be glad to ride her on highway all life long.

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from the Sun today:

http://tinyurl.com/wearedoomed

from the article:

….In B.C., the decline from the first to second quarter of this year was 5.1 per cent …..

….The real, inflation adjusted, change in housing prices this year is more likely to be . . . between zero per cent and minus five per cent for the country as a whole……

enjoy

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You’d pay that much? Even if she was throwing in the house for free I’d need some kind of time limit. At least the one in Florida was attractive by some people’s definition (with her extended patio!)

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So you’ve met krrrrish’s mom then?

Oh way, she’s a nasty old hag with leathery skin and there’s no question of her intelligence. I mean look what she let slither out of her festering loins…..

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Banks only start their process when there is no response from the mortgagee,There are lots provision that can solve the problem but you must call your bank or lawyer in advance otherwise that could be too late.

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You guys will never believe this but I bought into a piece of land NE of Husdon Bay SK a month ago. I paid 30,000.00 for it and its now worth about 100,000.00 in one month. Seems they found what might be the biggest coal find on the planet right beneath and there is talk of the value of my share going to 6.5 million dollars by XMAS

If anyone wants to look at this land its on Google Earth
53 degrees 10′ 13″ N by 102 degrees 03′ 45.13″ W

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If you start with a 40 year amortization, after 5 years what you have is a 35 year amortization.

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CMHC introduced mortgage backed securities way back in 1986 as a means to lower finance costs to home buyers. In 2001, they did one up better by introducing CMB (Canada Mortgage Bond), which is insured and backed by the government. It works like the ABCP (Asset Backed Commercial Paper), which is currently in trouble. There a lot of this being sold, almost record amount and big and small lenders turn to CMB, because sub-prime had dried up all other sources of funding. So, if Canadian home prices start to fall and fall steep, what would happen to bond holders of the CMB even if it’s insured by the government. Will the housing fall out hurt the banks more or CMHC? Will it be a replay for the ABCP like we see now? Remember that all of this didn’t get in trouble until house prices start falling. This is something I would be interested to hear from you.

Thanks.

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I work for one of the Big Five and I can tell you first-hand the people who work here are not smart. Secondly, they didn’t learn anything from the 80s. They’re not going to fail, but the housing fallout is going to hurt them bad, at least here in Vancouver. All the big banks have driving revenue like crazy the last few years and now they’re all freaking out because they’re over-exposed and trying desperately to cut down their exposure any way possible.

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Respectfully disagree. Yes, you’ll insured, but the 40-yr term will no longer be available. They’ll have to get a 35-yr, with no great difference to monthly pmt.

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I don’t usually toot my own horn, but this is something I mentioned on this site a few months ago. ;^) I believe it was this site.

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http://www.theglobeandmail.com.....ional/home

Maybe a bit less cash out there for people to pick up their eighth condo?

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Oh, golly gee, I never thunk of that.

Well definitely a good time to buy then. I’m going to stop being a bitter renter now and buy the first house I see — I can probably see quite a few from my front door.

(btw, I didn’t know about the porn industry)

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That’s 10% decline YoY.”

Must be a mistake, CMHC, et,al forecast called for single digit price appreciation for 2008, so I guess between now and the end of year, we will see 20% price appreciation, and why not, Calgary is so close to the 2010 Olympic city, has oil, no subprime, and a thriving porn industry.

And smart investors will know that when Atlantis emerges, Calgary will be an ocean front city, but please don’t tell Don Campbell about this, he will start marketing this idea at the expense of Rob Rennie.

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