Hey, it’s the end of another work week!
You made it to the weekend and that means it’s time for another Friday Free-for-all!
This is our regular end of the week news roundup and open topic discussion thread for the weekend, here are a few recent links to kick off the chat:
–A petition for change
–No more goofy superstitions
–Reverse mortgages popular
–Royal Bank scraps limit
–Uncle and Aunt-ecdote
–Times they are a changin’
So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!
A recent petition seems to have gotten enough attention to get the Premier to comment on the issue of limits to foreign buyers of BC real estate. This article say’s she’s sitting on the fence, but her quote seems to pretty clearly have a message for struggling first time buyers in BC:
“By trying to move foreign buyers out of the market, housing prices overall will drop. That’s good for first time home buyers, but not for anybody who’s depending on the equity in their home to maybe get a loan or use that to finance some other projects.”
Which category do you think holds about 70% of the voting population?
Yesterday we posted about the record debt levels of Canadians – most of that growth happening in mortgage and line of credit debt.
Some people think low interest rates and CMHC backed mortgage debt is to blame for high house prices, while others blame foreign buyers in cities like Vancouver and Toronto.
Would you support restricting foreign ownership of property the same way they do in countries like Mexico, China and Australia?
Some people certainly would. This petition on change.org has grown by more than 10,000 signatures in the last few days and is currently at the top of todays active list on that site.
Here’s the link to the petition if you support this idea – how many signatures do you think it would take to get politicians to support limitations on foreign buyers and how would they convince home sellers that this is a good idea?