A future of higher mortgage rates

Did you get your special edition 2009 rock-bottom interest rate loan yet?  Better get it quick, because you’re running out of time.  We’ve heard from the Bank of Canada, and Harper says the same thing: expect rising rates.

Down south Freddie Mac sees mortgage rate rising to 6% in 2010, while Morgan Stanley is betting on 30 year rates of 7.5 to 8%.  These are still historically very low, but changes like this can have a dramatic effect on high debt levels.

Any more rabbits in that hat?

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Jenny The Troll
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Jenny The Troll

I tried to post this on Chipman's but I have been censored, has anyone else been censored

56 Econ Student Tue, Dec 30, 2008 | 10:34 am What’s your prediction? ”

My prediction- prices will go up.

The prediction is based on a study I read on Hong Kong’s property crash.

It seems everyone there jumped in when they thought it was safe, just before the big crash.

I anticipate a false recovery, followed by a big crash.

It could be as early as Spring 09, followed by a crash late summer, but if I were to bet, (not more than 1 dollar), I don’t think we will see the big crash until summer of 2010.

Stan
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Stan

scullboy – hate to break this to you but, on reading the tone and off-topic nature of your posts, there is also a fair case for calling you a troll. Why would anyone move away from a place they obviously didn't like and yet continue to read and talk about it? Makes no sense. In fact, I wouldn't be surprised if you and Supraboy are one and the same. Your comments about farmers markets, for example, don't make sense – there are a lot of farmers markets in Vancouver. In fact, Vancouver is the home of the 100-mile diet you seem to be a fan of. I'm sure you are enjoying your new life in Halifax, but you don't seem to realise that life is not all about where you live – it's about who you know and what you… Read more »

m
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m

@The Best Real Estate Anywhere: "The plan is to engineer a housing correction."

Hmm… very plausible as 1) High real estate prices is gross mis-allocation of capital (We need real, productive industries– to make stuff that we can sell to the rest of the world, not just have R/E jerk circles), and 2) Banks are ready for a correction. (As we all know banks have not been increasing their mortgage books for the last few year. Large percentage of recent loans are CMHC insured and securitized –i.e. Bank will not care if RE market tanks.)

Anonymous
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Anonymous

#65

You are right there is also a troll that likes to try to pull the topic to dumb right wing cop bashing, judge bashing, intolerant rants but we just ignore him too

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[…] from oh crap at vancouvercondo.info 29 Dec 2009 3:10 am […]

scullboy
Member

Futura:

Skip my posts, then.

Anon 64: Trolls never go away. Just look at Browntown. They're good for only one thing, and that's honing one's insult skills. Calibrating your insults perfectly and getting a reaction is an art form. Just look at post 58. Clearly something got to him.

The guy offers nothing to the conversation and won't ever go away so it's an affordable pleasure to see just exactly what insult will finally annoy him the way he annoys everyone else. Sure it lowers the conversation but no more then the loonies that rail on about unions and cops and the like.

Anonymous
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Anonymous

Scullboy, Supraboy is not chinese. He is pretending to be to incite you so that you'll appear racist and discredit yourself. The best thing to do is ignore the troll. It probably doesn't even live in Canada and it's idea of a good times is to rile people up. if you do an internet search there was an article about trolls. It describes supra exactly. Just ignore it and it'll go away. Just like dave, john, satv, etc. If you recall the troll admitted to being all of them. Anything to incite people (stupid, idealisitic, naive, ignorant etc.) Don't take the bait you are bigger than a little troll. It wants to get a rise out of you so if you react it wins. In real life it probably has no friends so this is the way it gets attention… Read more »

Futura
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Futura

Scullboy,Supraboy

Boys, this real estate discusson is being ruined by your participation.

ReadyToPop
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ReadyToPop

I believe it. There are theories that USA didn’t go to the moon an faked it. There are theories that the US government bombed their own World Trade Centre.

-sigh- the retards and whackos are out in full force.

Must be the holiday season.

scullboy
Member

Supra@58 (cause who are we kidding, that's who you are)

Wow, struck a nerve did I? Finally.

Tell me, what bothered you the most? Was it the slights to your masculinity? The graphic sexual imagery? Maybe it was the comments on dim sum.

Tell me, I'm dying to know. 🙂

supraboi
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supraboi

i blogs with da best of dem

sculldick
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sculldick

@Anonymous:

i agee too. US is full of shit.

sculldick
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sculldick

@scullboy:

Scullboy, get the F**K out of here. Go on blogs on the east coast.

Maggie Chipman
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Maggie Chipman

"Just hung up from a conference call with the Prime Minister and several Finance Ministers.

Bad, bad news for specuvestors, especially the ones in BC."

Best Realestate:

Are you pulling our legs? I can't believe you would have been a participant at such highly complex discussions. Are you a qualified Realtor or professional Mortgage Broker?

channelsurfing
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channelsurfing

Van Province categorizes RCMP as 'weasels'. Well said IMHO

http://www.theprovince.com/news/Ethan+Baron+Mount

Anonymous
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Anonymous

@The Best Real Estate Anywhere: Well that would be exciting. Can't wait to hear more!

Anonymous
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Anonymous

Teranet monthly report is out:

http://www.housepriceindex.ca

Vancouver prices up again in October by 1.85%. Still below the all-time high water mark of Sprin '08, but getting close. When does the madness end?

Anonymous
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Anonymous

Interesting links: I think the first one shows that wives can support their husbands in moments of need. If there is a major financial shock it might be that they are even forced to support each other. Marriages involve a large share of 'convenience'" but if the house you live in depreciates both partners become poorer and they might have to stick together. Selling the house would be disastrous for both and divorces are expensive.

If only one partner lost their job, things might be different.

nonymouse
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nonymouse

It seems that contrary to what one may think a housing crash forces

people to stay together.

http://online.wsj.com/article/SB12612664436079892

Anonymous
Guest
Anonymous

marriage and financial health.

http://tinyurl.com/yk3vfnd

do you reckon that married people will divorce more when the *&*! hits the fan in Vancouver and house prices drop?

Many marriages are based on the agreement to take the RE gamble, but soon will be tested hard!

whatthefu#k
Guest
whatthefu#k

1800 complaints against RCMPsychos. The current ratcheting up of cop numbers by the government to head off revolution has swept so many psychos off the bar room floor that they're killing each other.

http://www.vancouversun.com/news/Suspended+Mounti

Trying to lie about the law hasn't saved them from Braidwood.

Guns and Tasers are not Wii paddles, too bad the average RCMPsycho recruit doesn't have the IQ to understand that.

buff_butler
Member
buff_butler
The Best Real Estate
Guest
The Best Real Estate

Just hung up from a conference call with the Prime Minister and several Finance Ministers.

Bad, bad news for specuvestors, especially the ones in BC.

The plan is to engineer a housing correction.

I’m too busy to give details right now, but it has something to do with Canada not being cost competitive with the US now that housing correction in America is almost over.

More details to follow.

scullboy
Member

Bmwguy:
of course not. While Supra's "daddy" and his buddies were enjoying their pig's rectum soup, Supra and his ladyboy buddies were kneeling under the table taking care of Daddy's other needs. Those surgeries aren't going to pay for themselves!

Wow, I even grossed myself out with that mental image…

scullboy
Member

Hey Supra, When you say "dad" you mean the fat German dude who answered your ad in the back of the Straight, right? Btw how much do you charge for the coconut oil special? And why are there so many Asian trannies? The ratio of Asian trannies to Caucasian seems to be at least 3 to 1 and I figure you'd know. So let me get this straight, Daddy's friends roll up in their leased cars to eat cheap, greasy, shitty food and somehow we are supposed to make the leap that Daddy (not you) is a high roller? I love hearing from you, dude. Really. You are the soul of Vancouver. Your living in Daddy's basement pretending you're living on Beverly Hills. You're too funny. Those dim sum shitholes are packed because they are cheap. The people who eat… Read more »