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About FS91

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    Canucks Prospect
  • Birthday 11/05/1991

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  1. https://www.ctvnews.ca/canada/why-are-hundreds-of-luxury-vancouver-mansions-being-rented-for-cheap-1.4329800 Looks like the speculation tax is having an effect
  2. Imo, I think the stress test may stay as is, but in order to help out first time home buyers I can see them increasing the amortization period from 25 to 30 years, mainly because it's easier to do and would help reduce those mortgage payments to a more manageable number for first time buyers. " the 30-year mortgage proposal can be enacted unilaterally by the Finance Department. Changes to the stress test would require the co-operation of the Office of the Superintendent of Financial Institutions, an independent regulator that just this week defended the existing rules"
  3. Totally agree, it was funny listening to Real Estate agents and Mortgage brokers who were trying to argue the opposite "the markets just about to take off based on the statistics" or "Spring is when there is a large jump in prices so you should get in before that" or my favorite "I have information from a source that says interest rates will be going up for sure, and they will be removing the stress test, so you should buy while you can".
  4. It's been quite the experience for My Fiance and I, who are in our mid 20's with fairly well paying jobs. We're worried that we may end up buying at a time when the market is just beginning to take a downturn, which would be the worst case scenario, so we're going to play the waiting game for the next few months to a year and see what unfolds. I for one am hoping there is no reform on the stress test and they don't weaken any of these new policies that have been put in place. We are finally starting to see the effects as prices are beginning to drop. The problem is there is a lot of pressure from the developers and people like the Canadian Homebuilders’ Association, who are the ones making money off of all of this and are hurting from the lack of sales. It's time to see if the government will step up and stick with their policies rather than buckling. If they dont, there is going to be a large oversupply of new condos out there with very few buyers and we might finally see a bit of a correction in prices.
  5. I've heard talks that they may be getting rid of the stress test soon. Would anyone have insight into this?
  6. jassie? watupp loll