Are you ready for the weekend?
It’s Friday and that means it’s time for another Friday Free-for-all open topic discussion thread for the weekend.
What are you seeing out there? Post your news links, thoughts and anecdotes in the comments below and have an amazing weekend!
There’s likely more to this story than simple discrimination, but a Vancouver couple is claiming they were denied a housing coop home because their second child was a girl.
Canada Mortgage and Housing Corporation (CMHC) guideline suggests children of opposite sexes can’t share a bedroom if they are over the age of five, but it’s OK for children of the same sex to do so.
Gottfried and Hurtig believe it should be up to parents to decide when and if children share a room.
“I would describe it as being completely outrageous and appalling and just unbelievable,” Gottfried tells Go Public.
“No matter how I thought about it, I couldn’t really wrap my brain around it,” Hurtig says.
The one-income family says money is tight. Getting the unit would have meant their rent would drop from $1,840 to $895 a month.
“It’s discrimination. We get the room if our children are the same sex and we don’t get the room if our children are not the same sex. It’s very, very clear-cut discrimination,” Gottfried said.
Read the full article over at the CBC.
From southseacompany: another warning about rates knocking back growth.
“The world has become so used to cheap credit that higher interest rates could derail the global economic recovery, the Bank for International Settlements has warned.”
“After cutting interest rates to all-time lows and pumping trillions of dollars into markets to boost growth in the aftermath of the global financial crisis, central banks are now preparing to tighten their monetary policies.”
“All this underlines how much asset prices appear to depend on the very low bond yields that have prevailed for so long.”
Read the full article here.
Time for a thread rollover, better late than never!
This would normally be our Friday free-for-all thread, but here it is Sunday morning.
What are you seeing out there? Post your news links, thoughts and anecdotes in the comments below and have an excellent weekend!
If you’re buying with less than 20% down, you’re a ‘high-risk’ borrower and you’re probably using CMHC insurance on your mortgage. New regulations are having a big impact on buyers in this zone with new CMHC mortgages dropping by 44%. Bullwhip29 pointed out this article in BIV:
Through the first half of 2017, CMHC-insured mortgages had dropped to 95,000, down from 118,000 in the first half of 2016.
In October 2016, the federal government began a stress test for approving all high-ratio insured mortgages with terms of five years or more. It required such borrowers to prove they can handle payments at the Bank of Canada’s posted five-year rate, which is about twice as high as the lowest lending rates available.
Read the full article here.