Tag Archive
Buying a House at the Peak of the Market…a story from 15 years ago
This week was a dramatic week in the markets. And the headlines in every paper are talking about market crashes, soft landings, hard landings, government bail outs and housing value drops. It is easy to let the panic overtake you, but, it makes me reflect back 15+ years ago when I bought my first investment with my parents. **check out the article Julie wrote for our free newsletter – she talks about the recent headlines and the best way to make investments in troubled times)**
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The Housing Market in Canada: The Sky Is Falling!
The sky is obviously falling – every paper is filled with doom and gloom headlines! Job cuts, house prices falling, and the increase in foreclosures. And the blogging world is full of doom and gloom for the real estate market.
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5% Down and 35 Year Amortization Now the Max in Canada
The government of Canada is adjusting their policy on government backed mortgages based on what’s happened in the U.S. housing crisis. As of October 15, 2008 you won’t be able to get a 40 year, no money down mortgage, backed by the government anymore. Their new rules and requirements for the 35 year amortization mortgage with a minimum of 5% down will likely be so tight you won’t qualify for it either.
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