I know what you were going for but "doth" is third person singular, "bulls do" in old English, "a bull doth".

Now watch the slings and arrows of outrageous grammar hounds hit me from all angles for calling someone on old English grammar while messing up modern English.

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” Keeping foreclosures off the market by the banks”

Is a method used by US banks to prevent prices from falling.

Aside from the fact that it doesn't work (at pointed out above), banks in Canada have no financial incentive to keep prices from falling, as CMHC is guaranteeing the principal. Their incentive is to foreclose and sell as quickly as possible, to get their money back. Any program to keep houses off the market would have to be paid for by CMHC, and that would ultimately jeopardize the Feds' credit rating, as I have pointed out. And that truly would be the nightmare scenario.

Frankly I think the Cons are not going to go a damn thing about the bust, just as governments did not do a damn thing about the Ontario bust of the 90's and the BC/Alberta bust of the 80's – and for those who weren't around for them, those were major upheavals. It's politically and fiscally cheapest simply to deny there is a problem, as indeed they are already doing. Recall again that the Con's support is based in rural areas which would be antagonized by efforts to bail out urban homedebtors. Also any bailout program would be seen in Quebec as punishing them for the sins of the Anglos, and the Cons learned an expensive lesson last election to tread lightly there.

All of the homedebtor "bailout" programs in the US are really to the benefit of the banks and the banks in Canada already have their bailout.

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“Flaherty has decided to ride this bomb all the way down to ground zero. Hold on to your hats.”

Like in the famous Kubrick mvie of 1964, I can imagine Flaherty riding an atomic bomb just dropped from a plane, with a cowboy hat on!

This market is going to implode so hard that it will be fun to watch.

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http://www.theglobeandmail.com/report-on-business…

Before the 2007 changes, some discount brokers offered to list homes on MLS for a fee, typically less than $700. The homeowner then handled the sale.

The CREA changes required all agents to inspect homes before listing them on the MLS and work with other agents throughout the sale. As a result, discount brokers say they could no longer offer their low-fee services and had to charge more to carry out the various CREA requirements.

Mr. Neil, for example, charges customers $299 to list their home on MLS, plus $79 for each week the house is listed. When the house is sold, he charges a fee of 0.25 per cent of the sale price. Mr. Neil said if the bureau wins its case, he would likely lower his fees and change his services.

“We would offer probably a sort of à la carte -type menu of services; if [customers] want them they can pay for them,” he said. He also believes several American online services would expand into Canada.

“The consumer demand is phenomenal for this service,” added Donald Hewie, a real-estate agent in Ottawa who has also been pushing for changes. “This could be the beginning of the end for CREA.”

Imagine:

Lower fees +

No CHMC =

——————–

Huge savings for consumers!

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because vrengd.

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