CMHC builds mansions in China

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

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.

@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.

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

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

@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".

@patriotz:

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

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: 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.

@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.

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 »

@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 »