CMHC builds mansions in China

http://www.vancouversun.com/business/CMHC+program…

please tighten the rule, domus does not like the wait any more.

It won't happen, these guys want re-election before anything else.

They might tighten slightly either the downpayment requirement or the length.

I think they won't do either of them, they know what would happen just as well as we do.

Hi domus,

It's a basic/safe prediction of what is to come in a few months – consider this an 'advance copy' of the news to come!

It's been painted into the tape for weeks.

@RippedtoShit: "Mortgage rules to revert back to 25% down/25 year maximum amortizations as of May 1st@"

I will believe it when I see it. Can you give more details? I do not think the government has the guts to push through such a change, it would result in an instantaneous drop in prices of well over 20% (and that's a conservative estimate).

Would like to know more if you have links.

This reads like a suspense thriller! http://www.businessweek.com/magazine/the-king-of-…

Vancouver Sun: http://www.vancouversun.com

Mortgage rules to revert back to 25% down/25 year maximum amortizations as of May 1st@

@DEFAULT NAME

 Perhaps this is what you're referring to? 🙂

@ReadyToPop: My God talk about a merry dance around an issue. This really smacks of "everybody in the know, knows, but none will talk about it".

Merry Christmas to you and yours

I love you argumentative bastards.

@patriotz:

There are many private employment insurance companies in the UK. It usually comes with long-term disability/sickness cover.

The recently released IMF report is here, and yes, Vancouver is mentioned.

Also….

A transcript of a recent conference call that may be of importance to VCI readers here.

Merry Christmas…..RTP

Strengthening oversight of the [CMHC] will be particularly important,” given Canada’s record levels of household debt and evidence that some cities are experiencing house-price bubbles, the IMF's executive board said in a separate statement.

@Default Name

RE: IMF calls for review of CMHC risk management

Great scoop….looks like the IMF is actually using the word "bubble" to describe some cities? Hmm, I wonder which cities those would be…. 🙂

@DEFAULT NAME: ….She replied, honey, things are never coming down. Oh yes, I said, yes they will. ….

Hard to make points with someone in a 'profession' with a minimum grade 4 education requirement.

@DEFAULT NAME: IMF calls for review of CMHC risk management

http://www.theglobeandmail.com…..le2281470/

Does underwear get stained when a fart pops? There will be lots of folks rinsing their underwear as Vancouver pops.

your long time realtor friend is pond scum, reality will knock her on her fat ass.

soon.

@fixie guy: "long past the point most other nations stopped."

I am not sure there were any nations that "stopped" voluntarily. They stopped because the credit bubble ran its course and credit dried up. Kind of like why Europe is now looking at austerity. Not because of great leadership but because the well has run dry.

this person never moved to ottawa; he was pretending moving only! LoL!

http://vreaa.wordpress.com/2008/02/23/he-said-she… Vansanity | 29 February 2008 at 8:11 am | Reply A friend that is a long time realtor talked to me on Feb 28. First thing she said, are you looking? Because I have a great place coming up in Ladner, also her own place on 62nd ave in east van is up. I said, I can’t afford a million for a place, and no, thank you, we’re waiting for things to come down. She replied, honey, things are never coming down. Oh yes, I said, yes they will. No, we didn’t argue about stats out there, conversation was brief and without substance. It just surprised me that she still feels that places are not coming down… ever. A woman who’s seen several bearish periods in local real estate obviously is enjoying the party and either does not see,… Read more »

http://vreaa.wordpress.com/2008/02/23/2-changed-m…

alexcanuck | 27 February 2008 at 9:22 am | Reply

'We sold our townhouse ( champlain heights) in Aug/07 and are renting and waiting. Owned free and clear, nothing to do with affordability, we wanted a move anyway and believe we sold for way more than it would sell for when we want to buy again. Our money is where our mouths are."

i wonder how the waiting is for this family since aug 2007?

@patriotz: "All insured events are unpredictable. That’s the point of having insurance. Insurance works because the more unpredictable events you group together the more predictable the total loss becomes." Well, almost. Any basic text on insurance mechanisms, actuarial science or insurance law will tell you that insurance only works when the events being covered satisfy a few criteria. One of those criteria is independence, in a probabilistic sense. The problem with insuring against weather events, for instance, is that the resulting claims are not probabilistically independent. A hurricane that hits Florida will affect large numbers of insureds simultaneously. Similarly, mortgage defaults due to macro-level economic conditions (rising interest rates, worsening employment prospects, warfare, etc) will affect large numbers of homeowners at the same time. Insurance mechanisms work when you have a large number of individuals who face risks that are… Read more »

You dummies are too thick to realize that the CRASH has already started. It IS underway NOW.

The ramifications may be gradual but they will be enormous in size and scope.

Hold on ladies, the ride will be increasingly bumpy.

McLovin, I hope you didn't drink the coolaid.

All the best for the holidays and the New Year!

Losers!