Comments on: Gov kills 40 year zero down mortgages

By: beatstreet

beatstreet — Fri, 11 Jul 2008 18:17:58 +0000

...oh does anyone not seriously believe that the recent changes to Canadian government guarantees aren't related to the very high probably event that the big mortgage guarantors in the US are on the ropes with blood streaming down and ready to go down? Come one bulls, let's hear it so you have your lines ready for tomrrow's exhibition centre tours.

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By: beatstreet

beatstreet — Fri, 11 Jul 2008 18:11:09 +0000

Good job again Pope on selecting your articles. I hadn't thought about it, but come to think of it, now RRSPs are safer than your house! You don't have to put stocks in your RRSP; you just put GICs, T-bills etc. Unfortunately, some poor soles will rush in to "get under the wire" over the next few weeks before the 40 year rules change, mindless of the implosion that is so obviously happening to our biggest trading partner. Thank goodness we have the seawall to protect us.

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By: scullboy

scullboy — Fri, 11 Jul 2008 11:18:34 +0000

The Sophia would be way more interesting at 50% off and one of Krrrrrrish's mom's "extra double happy ending gorilla mask" massages. Hey krrish, tell your mom I'll be by to see here this weekend! I think maybe she was huffing fumes from her "exotique lotions" when she was expecting krrrrish, which nicely explains his mental capacity.

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By: moldcity

moldcity — Thu, 10 Jul 2008 22:56:09 +0000

The Sophia will be more interesting at 50% off than it is at 5% off.

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By: ulsterman

ulsterman — Thu, 10 Jul 2008 22:47:16 +0000

I see the advert in today's Georgia Straight for the Sophia development now has a 5% price discount. Last week's advert just emphasized what a great deal this bankrupt development was - obviously not enough investors could see this no-lose opportunity.

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By: Re-diculous

Re-diculous — Thu, 10 Jul 2008 22:21:48 +0000

Wow....a jump in inventory to 19,251, increase of 232 in one day. Sales-to-list at a mere 24%.

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By: stagnate

stagnate — Thu, 10 Jul 2008 21:37:30 +0000

absolutely, this is a publicity stunt by the feds/cmhc. the cmhc is not like any other quasi insurance gig; it is an unprecedented cash cow for the federal government. people don't realize how closely the cmhc is linked to the bank of canada. money in (there's been a lot) is pure revenue, any liabilities are easily monetized by the central bank. a no lose proposition for the government. the government doesn't want the cmhc to come under scrutiny, ergo the distancing created by the new announcement.

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By: Michael Randallbard

Michael Randallbard — Thu, 10 Jul 2008 21:36:42 +0000

Too good to be true................ From San Diego tonight "Sales of North County homes priced $1.5 million or more crashed by 50 percent in June from the same month a year earlier.”

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By: Drachen

Drachen — Thu, 10 Jul 2008 20:39:06 +0000

I think the whole 40 year 0 down was just a dodge from the Conservatives in the first place, they figured there would be an election in the spring at the latest so they had to keep the bubble going until after then. Now that it's obvious the bubble is going to die before the next election they cut back as you say beatstreet so they can say they did something...

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By: Booya

Booya — Thu, 10 Jul 2008 20:32:53 +0000

Great video link! Well-explained, and goes a long way to demonstrating how ridiculous people's reasoning can get when money is involved.

In that vein, here's another take on the concept:

http://www.geekculture.com/joyoftech/joyarchives/…

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